SunTrust Banks, Inc. reaffirmed their buy rating on shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) in a research note issued to investors on Monday. The firm currently has a $50.00 target price on the financial services provider’s stock. SunTrust Banks also issued estimates for Kinsale Capital Group’s Q3 2017 earnings at $0.07 EPS and FY2017 earnings at $1.15 EPS. The analysts noted that the move was a valuation call.
KNSL has been the subject of a number of other reports. William Blair downgraded shares of Kinsale Capital Group from an outperform rating to a market perform rating in a report on Monday. Royal Bank Of Canada reissued a buy rating and set a $41.00 price target on shares of Kinsale Capital Group in a report on Sunday, August 6th. Finally, Zacks Investment Research raised shares of Kinsale Capital Group from a hold rating to a buy rating and set a $46.00 price target for the company in a report on Tuesday, August 8th.
Kinsale Capital Group (KNSL) opened at 42.72 on Monday. Kinsale Capital Group has a 52-week low of $20.84 and a 52-week high of $47.78. The company has a market cap of $895.75 million, a PE ratio of 67.28 and a beta of 0.09. The firm has a 50-day moving average of $42.30 and a 200 day moving average of $42.30.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, August 29th. Kinsale Capital Group’s dividend payout ratio is currently 19.20%.
In related news, Director Frederick L. Jr. Russell sold 124,812 shares of Kinsale Capital Group stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $36.58, for a total transaction of $4,565,622.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KNSL. Bamco Inc. NY lifted its holdings in Kinsale Capital Group by 387.8% during the 2nd quarter. Bamco Inc. NY now owns 1,167,810 shares of the financial services provider’s stock valued at $43,571,000 after purchasing an additional 928,400 shares during the last quarter. RE Advisers Corp lifted its holdings in Kinsale Capital Group by 99.8% during the 2nd quarter. RE Advisers Corp now owns 1,298,571 shares of the financial services provider’s stock valued at $48,450,000 after purchasing an additional 648,571 shares during the last quarter. Granite Investment Partners LLC bought a new position in Kinsale Capital Group during the 2nd quarter valued at about $11,856,000. JPMorgan Chase & Co. lifted its holdings in Kinsale Capital Group by 28.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,405,850 shares of the financial services provider’s stock valued at $52,453,000 after purchasing an additional 308,449 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Kinsale Capital Group by 34.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,119,072 shares of the financial services provider’s stock valued at $41,753,000 after purchasing an additional 288,422 shares during the last quarter. 79.79% of the stock is owned by hedge funds and other institutional investors.
Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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