Kinsale Capital Group (NYSE:KNSL) Stock Price Down 3.1% Following Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price fell 3.1% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. 16,298 shares traded hands during trading, a decline of 80% from the average session volume of 82,935 shares. The stock had previously closed at $454.02.

Several other research analysts also recently commented on the company. BMO Capital Markets raised their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial lowered their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Finally, Royal Bank of Canada lowered their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $471.11.

Insider Activity

In related news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now owns 447 shares in the company, valued at $223,191.57. The trade was a 90.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,235 shares of company stock worth $3,618,954. Insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. ORG Wealth Partners LLC acquired a new position in shares of Kinsale Capital Group in the third quarter valued at about $26,000. UMB Bank n.a. increased its holdings in Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Signaturefd LLC increased its holdings in Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Kinsale Capital Group by 225.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after buying an additional 79 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Kinsale Capital Group during the 3rd quarter valued at approximately $55,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

The firm has a market capitalization of $9.97 billion, a PE ratio of 24.42, a P/E/G ratio of 2.16 and a beta of 1.13. The firm’s fifty day moving average price is $475.60 and its 200 day moving average price is $453.66. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm’s revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.31 earnings per share. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

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.