Kinsale Capital Group’s (KNSL) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Kinsale Capital Group (NYSE:KNSL) in a research note released on Friday,Benzinga reports.

KNSL has been the topic of several other reports. Truist Financial lowered their price objective on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley lowered their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $460.78.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $449.77 on Friday. The stock has a market capitalization of $10.48 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a 1 year low of $355.12 and a 1 year high of $548.47. The business’s fifty day moving average is $459.56 and its two-hundred day moving average is $465.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.39. The company had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. On average, research analysts forecast that Kinsale Capital Group will post 15.67 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.17 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s payout ratio is currently 3.42%.

Insider Buying and Selling

In related news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction 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 $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Kinsale Capital Group by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock worth $983,137,000 after acquiring an additional 29,553 shares during the last quarter. State Street Corp lifted its position in Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after acquiring an additional 8,954 shares during the last quarter. Geode Capital Management LLC lifted its position in Kinsale Capital Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 544,954 shares of the financial services provider’s stock worth $254,441,000 after acquiring an additional 16,246 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 9.6% during the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after acquiring an additional 44,931 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after acquiring an additional 5,207 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.