Shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Get Free Report) have been given a consensus rating of “Reduce” by the ten research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $362.1111.
A number of analysts recently issued reports on the company. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. raised their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley decreased their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Finally, TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th.
View Our Latest Analysis on KNSL
Kinsale Capital Group Stock Up 0.5%
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm had revenue of $548.52 million for the quarter, compared to analysts’ expectations of $445.13 million. During the same period in the previous year, the firm posted $4.78 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts anticipate that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.
Kinsale Capital Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.05%.
Insiders Place Their Bets
In other news, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Kinsale Capital Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in Kinsale Capital Group during the second quarter worth about $671,457,000. Capital World Investors lifted its position in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. lifted its position in shares of Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after buying an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Finally, Turtle Creek Asset Management Inc. boosted its stake in shares of Kinsale Capital Group by 47.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after acquiring an additional 132,576 shares during the period. 85.36% of the stock is owned by institutional investors.
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.
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