Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have earned an average recommendation of “Reduce” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $373.80.

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their price target on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Royal Bank Of Canada cut their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial lowered their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Cantor Fitzgerald lowered their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $338.97 on Friday. The company has a 50-day simple moving average of $319.34 and a two-hundred day simple moving average of $350.23. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $512.76. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.13 and a beta of 0.90. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.71 earnings per share. On average, equities analysts forecast that Kinsale Capital Group will post 20.71 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Insider Activity at Kinsale Capital Group

In related news, CAO Christopher R. Tangard acquired 330 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the period. Brown Advisory Inc. grew its holdings in shares of Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC raised its position in shares of Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 634 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock worth $2,430,000 after acquiring an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.