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

Kinsale Capital Group, Inc. (NYSE:KNSL) has been assigned a consensus recommendation of “Reduce” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $374.90.

KNSL has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective 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. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $308.19 on Monday. The firm has a market cap of $7.11 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $512.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $320.21 and its two-hundred day moving average is $358.05.

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

Kinsale Capital Group Dividend Announcement

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

Insider Activity

In other news, CAO Christopher R. Tangard acquired 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The shares were 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were 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 owned 308,048 shares in the company, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bayban purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. Finally, Johnson Financial Group Inc. grew its position in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.