Short Interest in Kinsale Capital Group, Inc. (NYSE:KNSL) Grows By 5.4%

Kinsale Capital Group, Inc. (NYSE:KNSL) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 1,360,000 shares, an increase of 5.4% from the May 15th total of 1,290,000 shares. Currently, 6.2% of the shares of the company are short sold. Based on an average daily volume of 197,000 shares, the short-interest ratio is presently 6.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KNSL shares. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Compass Point decreased their price objective on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada restated a “sector perform” rating and set a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Truist Financial decreased their price target on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, BMO Capital Markets reduced their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $434.00.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $394.23 on Thursday. The business has a 50-day simple moving average of $399.30 and a two-hundred day simple moving average of $417.35. Kinsale Capital Group has a 12-month low of $325.01 and a 12-month high of $548.47. The stock has a market cap of $9.18 billion, a PE ratio of 26.19 and a beta of 1.07. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The business had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter last year, the business earned $2.44 EPS. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. Analysts anticipate that Kinsale Capital Group will post 14.94 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Insiders Place Their Bets

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KNSL. Rise Advisors LLC increased its stake in shares of Kinsale Capital Group by 17.5% in the first quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock valued at $95,000 after buying an additional 27 shares during the period. Janney Montgomery Scott LLC increased its position in Kinsale Capital Group by 1.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 29 shares during the period. Pearl River Capital LLC raised its holdings in Kinsale Capital Group by 5.2% during the 3rd quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 30 shares during the last quarter. Blackhawk Capital Partners LLC. lifted its position in shares of Kinsale Capital Group by 1.1% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider’s stock worth $889,000 after purchasing an additional 30 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Kinsale Capital Group by 17.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 231 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 35 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Company Profile

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.