Wells Fargo & Company Issues Positive Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its target price boosted by Wells Fargo & Company from $357.00 to $366.00 in a report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Royal Bank Of Canada reduced their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Morgan Stanley dropped their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Cantor Fitzgerald reduced their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $375.80.

Kinsale Capital Group Trading Down 2.2%

NYSE:KNSL opened at $338.52 on Thursday. The firm has a market cap of $7.81 billion, a P/E ratio of 14.90, a PEG ratio of 1.12 and a beta of 0.90. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $314.71 and its 200-day simple moving average is $353.43. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million during the quarter, compared to analysts’ expectations of $410.25 million. During the same period in the prior year, the company posted $3.71 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Kinsale Capital Group will post 20.65 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.40%.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of KNSL. Bamco Inc. NY grew its position in Kinsale Capital Group by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after buying an additional 24,796 shares in the last quarter. Capital World Investors boosted its holdings in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after acquiring an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. boosted its holdings in shares of Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after acquiring an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $229,653,000. Finally, DAVENPORT & Co LLC increased its stake in shares of Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after acquiring an additional 10,137 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.