Kinsale Capital Group (NYSE:KNSL) Shares Gap Down After Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL) shares gapped down prior to trading on Friday after Morgan Stanley lowered their price target on the stock from $535.00 to $520.00. The stock had previously closed at $487.11, but opened at $459.46. Morgan Stanley currently has an overweight rating on the stock. Kinsale Capital Group shares last traded at $453.88, with a volume of 116,802 shares trading hands.

Several other brokerages have also commented on KNSL. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada cut 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 report on Monday, October 28th. Truist Financial cut their price target on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Finally, BMO Capital Markets boosted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $460.78.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction dated 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 owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock valued at $3,618,954 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $31,000. Larson Financial Group LLC lifted its position in Kinsale Capital Group by 7,400.0% in the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Allworth Financial LP lifted its position in Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after buying an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

The stock’s 50-day simple moving average is $461.05 and its 200 day simple moving average is $465.71. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.67 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a $0.17 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is presently 3.42%.

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.