Kinsale Capital Group (NYSE:KNSL) Given New $420.00 Price Target at JPMorgan Chase & Co.

Kinsale Capital Group (NYSE:KNSL) had its target price raised by JPMorgan Chase & Co. from $400.00 to $420.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on KNSL. BMO Capital Markets decreased their price objective on shares of Kinsale Capital Group from $544.00 to $453.00 and set a market perform rating for the company in a report on Tuesday, April 30th. Truist Financial cut their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a buy rating on the stock in a research note on Monday, April 29th. TD Cowen started coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They issued a hold rating and a $403.00 price target on the stock. Compass Point cut their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a neutral rating on the stock in a research note on Monday, April 29th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $434.00.

Kinsale Capital Group Stock Up 1.4 %

Shares of NYSE KNSL opened at $381.13 on Thursday. The stock has a market cap of $8.87 billion, a P/E ratio of 25.32 and a beta of 1.06. The firm has a 50 day moving average price of $385.22 and a 200 day moving average price of $422.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. Analysts expect that Kinsale Capital Group will post 14.93 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Transactions at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently added to or reduced their stakes in the company. Strategic Advisors LLC increased its holdings in Kinsale Capital Group by 1,556.6% during the second quarter. Strategic Advisors LLC now owns 8,167 shares of the financial services provider’s stock worth $3,147,000 after buying an additional 7,674 shares during the last quarter. Bennett Selby Investments LP acquired a new position in Kinsale Capital Group during the second quarter worth $481,000. Harbor Capital Advisors Inc. increased its holdings in Kinsale Capital Group by 249.2% during the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 3,818 shares during the last quarter. Tealwood Asset Management Inc. acquired a new position in Kinsale Capital Group during the second quarter worth $1,036,000. Finally, Trust Co. of Vermont increased its holdings in Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after buying an additional 50 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.