Kinsale Capital Group (NYSE:KNSL) Shares Down 3.1% After Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL) shares were down 3.1% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. Approximately 16,298 shares changed hands during trading, a decline of 80% from the average daily volume of 82,935 shares. The stock had previously closed at $454.02.

KNSL has been the subject of a number of other reports. Truist Financial decreased their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group increased their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research report on Monday, October 28th. Royal Bank of Canada decreased their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Finally, BMO Capital Markets boosted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $471.11.

Insider Buying and Selling

In related news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Kinsale Capital Group by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 5,382 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 249 shares during the period. CIBC Asset Management Inc increased its stake in shares of Kinsale Capital Group by 7.0% during the second quarter. CIBC Asset Management Inc now owns 659 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 43 shares during the period. Rhumbline Advisers raised its holdings in Kinsale Capital Group by 0.9% during the second quarter. Rhumbline Advisers now owns 62,894 shares of the financial services provider’s stock worth $24,232,000 after purchasing an additional 579 shares in the last quarter. SouthState Corp acquired a new stake in Kinsale Capital Group in the second quarter worth approximately $65,000. Finally, National Bank of Canada FI boosted its stake in Kinsale Capital Group by 204,450.0% during the 2nd quarter. National Bank of Canada FI now owns 8,182 shares of the financial services provider’s stock valued at $3,203,000 after purchasing an additional 8,178 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Down 5.7 %

The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $475.60 and a 200-day moving average price of $453.66. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period in the previous year, the company earned $3.31 earnings per share. Kinsale Capital Group’s revenue was up 33.0% compared to the same quarter last year. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.61 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.15 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

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.