Kinsale Capital Group, Inc. (NYSE:KNSL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $510.00.

KNSL has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial raised their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. BMO Capital Markets cut shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research report on Monday, February 26th.

Insider Buying and Selling

In other news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds have recently made changes to their positions in KNSL. Carnegie Capital Asset Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $8,002,000. Navellier & Associates Inc. bought a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $975,000. Scout Investments Inc. grew its holdings in shares of Kinsale Capital Group by 38.0% in the 3rd quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock worth $38,780,000 after acquiring an additional 26,084 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Kinsale Capital Group by 116.1% during the third quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock worth $5,127,000 after purchasing an additional 6,651 shares during the period. Finally, DAVENPORT & Co LLC raised its position in shares of Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after purchasing an additional 198,129 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $451.81 on Friday. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 34.20 and a beta of 0.89. Kinsale Capital Group has a one year low of $297.33 and a one year high of $548.47. The company’s 50-day simple moving average is $491.30 and its 200-day simple moving average is $415.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Friday, February 16th. The financial services provider reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.43. The company had revenue of $351.17 million for the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. Kinsale Capital Group’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.60 EPS. Equities analysts anticipate that Kinsale Capital Group will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s payout ratio is currently 4.54%.

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.