Kinsale Capital Group (KNSL) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $51.00 price target on the financial services provider’s stock.

According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “

A number of other brokerages have also commented on KNSL. BidaskClub upgraded Kinsale Capital Group from a hold rating to a buy rating in a report on Wednesday, December 27th. SunTrust Banks reiterated a buy rating and set a $50.00 price target on shares of Kinsale Capital Group in a report on Monday, October 9th. They noted that the move was a valuation call. Finally, William Blair lowered Kinsale Capital Group from an outperform rating to a market perform rating in a report on Monday, October 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $47.33.

Shares of Kinsale Capital Group (KNSL) traded down $0.03 during mid-day trading on Wednesday, hitting $43.95. The stock had a trading volume of 99,437 shares, compared to its average volume of 57,135. Kinsale Capital Group has a one year low of $27.19 and a one year high of $47.78. The firm has a market capitalization of $924.27, a price-to-earnings ratio of 36.32 and a beta of -0.23.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. Kinsale Capital Group’s payout ratio is 19.83%.

In related news, SVP Ann Marie Marson sold 7,500 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $43.00, for a total value of $322,500.00. Following the completion of the transaction, the senior vice president now directly owns 105,334 shares in the company, valued at $4,529,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 515 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of Kinsale Capital Group by 24.6% in the third quarter. Thompson Davis & CO. Inc. now owns 9,500 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 1,875 shares in the last quarter. Cadence Capital Management LLC raised its stake in shares of Kinsale Capital Group by 5.1% in the third quarter. Cadence Capital Management LLC now owns 39,290 shares of the financial services provider’s stock valued at $1,696,000 after purchasing an additional 1,898 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Kinsale Capital Group by 5.0% in the third quarter. Prudential Financial Inc. now owns 51,115 shares of the financial services provider’s stock valued at $2,206,000 after purchasing an additional 2,440 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kinsale Capital Group by 678.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 2,463 shares in the last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.

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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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