Kinsale Capital Group (NYSE:KNSL) Sets New 12-Month Low – Here’s Why

Kinsale Capital Group, Inc. (NYSE:KNSL) shares hit a new 52-week low on Wednesday . The company traded as low as $382.45 and last traded at $383.42, with a volume of 18451 shares changing hands. The stock had previously closed at $394.93.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Kinsale Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Compass Point increased their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, July 28th. TD Cowen dropped their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kinsale Capital Group in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $493.22.

Kinsale Capital Group Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a fifty day simple moving average of $427.34 and a 200 day simple moving average of $451.01. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.46 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, topping the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm had revenue of $497.51 million for the quarter, compared to the consensus estimate of $446.00 million. During the same quarter last year, the firm posted $4.20 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. On average, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 28th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors have recently added to or reduced their stakes in the company. Focus Partners Wealth grew its holdings in shares of Kinsale Capital Group by 52.3% during the 1st quarter. Focus Partners Wealth now owns 18,324 shares of the financial services provider’s stock worth $8,918,000 after purchasing an additional 6,293 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Kinsale Capital Group by 337.5% in the first quarter. The Manufacturers Life Insurance Company now owns 80,482 shares of the financial services provider’s stock worth $39,171,000 after purchasing an additional 62,088 shares during the period. Inspire Investing LLC boosted its stake in Kinsale Capital Group by 110.2% during the first quarter. Inspire Investing LLC now owns 9,180 shares of the financial services provider’s stock worth $4,468,000 after buying an additional 4,812 shares in the last quarter. Congress Asset Management Co. boosted its stake in Kinsale Capital Group by 2.7% during the second quarter. Congress Asset Management Co. now owns 56,714 shares of the financial services provider’s stock worth $27,444,000 after buying an additional 1,480 shares in the last quarter. Finally, Swedbank AB increased its holdings in Kinsale Capital Group by 1.8% in the 2nd quarter. Swedbank AB now owns 58,050 shares of the financial services provider’s stock valued at $28,090,000 after buying an additional 1,000 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

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.