Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $475.00 at Royal Bank of Canada

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by Royal Bank of Canada from $480.00 to $475.00 in a report published on Monday, Benzinga reports. They currently have a sector perform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on KNSL. Oppenheimer initiated coverage on Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating on the stock. Truist Financial reduced their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday. Jefferies Financial Group lifted their price target 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. cut their price objective on shares of 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. Finally, Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a report on Monday. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $455.88.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $429.11 on Monday. Kinsale Capital Group has a 12 month low of $325.01 and a 12 month high of $548.47. The firm has a market capitalization of $9.99 billion, a P/E ratio of 28.51, a P/E/G ratio of 2.03 and a beta of 1.08. 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 business has a fifty day simple moving average of $465.12 and a two-hundred day simple moving average of $427.42.

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

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jackson Square Partners LLC bought a new stake in Kinsale Capital Group in the 1st quarter worth approximately $48,035,000. Champlain Investment Partners LLC boosted its stake in shares of Kinsale Capital Group by 58.9% in the 1st quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock worth $127,761,000 after buying an additional 90,209 shares during the last quarter. Natixis Investment Managers International purchased a new position in shares of Kinsale Capital Group in the 1st quarter worth $35,850,000. Artemis Investment Management LLP bought a new stake in shares of Kinsale Capital Group in the second quarter worth $25,476,000. Finally, Allspring Global Investments Holdings LLC increased its position in Kinsale Capital Group by 75.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after acquiring an additional 57,460 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

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.