Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $510.00.

Several analysts have recently commented on the stock. Truist Financial increased their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Royal Bank of Canada upped their target price on Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, BMO Capital Markets lowered Kinsale Capital Group from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th.

Insider Buying and Selling at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Kinsale Capital Group by 5.1% during the 1st quarter. Bank of Montreal Can now owns 1,663 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 80 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Kinsale Capital Group by 119.7% during the first quarter. Panagora Asset Management Inc. now owns 3,219 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,754 shares during the last quarter. Rhumbline Advisers grew its stake in Kinsale Capital Group by 2.5% in the 1st quarter. Rhumbline Advisers now owns 58,459 shares of the financial services provider’s stock worth $13,330,000 after buying an additional 1,422 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Kinsale Capital Group by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,861 shares of the financial services provider’s stock worth $1,792,000 after buying an additional 749 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Kinsale Capital Group by 1.0% during the 1st quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock worth $524,835,000 after acquiring an additional 23,604 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $450.96 on Friday. The firm has a market capitalization of $10.46 billion, a P/E ratio of 34.14 and a beta of 0.89. Kinsale Capital Group has a 52 week low of $297.33 and a 52 week high of $548.47. The stock has a 50 day moving average price of $486.84 and a two-hundred day moving average price of $414.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.43. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The business had revenue of $351.17 million during the quarter, compared to the consensus estimate of $367.98 million. During the same quarter in the prior year, the company posted $2.60 earnings per share. Kinsale Capital Group’s revenue was up 41.5% compared to the same quarter last year. Equities analysts forecast that Kinsale Capital Group will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s payout ratio is 4.54%.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.