Truist Financial Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $500.00

Kinsale Capital Group (NYSE:KNSL) had its price objective lowered by Truist Financial from $530.00 to $500.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on KNSL. Jefferies Financial Group increased their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Oppenheimer began coverage on Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $455.88.

Kinsale Capital Group Stock Down 1.1 %

KNSL opened at $429.11 on Monday. Kinsale Capital Group has a 1-year low of $325.01 and a 1-year high of $548.47. The stock’s fifty day simple moving average is $465.12 and its 200 day simple moving average is $427.42. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a market cap of $9.99 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.31 EPS. As a group, research analysts expect that Kinsale Capital Group will post 15.05 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.99%.

Institutional Trading of Kinsale Capital Group

Several large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its stake in Kinsale Capital Group by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock valued at $281,065,000 after buying an additional 6,331 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Kinsale Capital Group by 14.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock valued at $164,291,000 after buying an additional 52,218 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Kinsale Capital Group by 0.4% in the first quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock valued at $173,095,000 after buying an additional 1,286 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Kinsale Capital Group by 58.9% in the first quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock valued at $127,761,000 after buying an additional 90,209 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Kinsale Capital Group by 0.3% in the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock valued at $107,687,000 after buying an additional 685 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.