Truist Financial Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $450.00

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by Truist Financial from $510.00 to $450.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on KNSL. Royal Bank Of Canada began coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and an average price target of $457.00.

Kinsale Capital Group Stock Performance

KNSL stock opened at $374.30 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The firm has a market cap of $8.71 billion, a PE ratio of 17.27, a P/E/G ratio of 1.56 and a beta of 0.99. The business has a 50 day moving average of $394.81 and a 200-day moving average of $414.35. Kinsale Capital Group has a 12-month low of $341.06 and a 12-month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. During the same quarter in the prior year, the company earned $4.62 EPS. As a group, sell-side analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group declared that its board has authorized a share buyback plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be paid a $0.25 dividend. The ex-dividend date is Thursday, February 26th. This represents a $1.00 annualized dividend and a yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is 3.14%.

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter worth $29,000. Johnson Financial Group Inc. boosted its stake in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after buying an additional 54 shares during the period. Finally, Root Financial Partners LLC purchased a new position in Kinsale Capital Group during the third quarter worth about $33,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.