Morgan Stanley Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $520.00

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by Morgan Stanley from $535.00 to $520.00 in a report released on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

KNSL has been the subject of a number of other research reports. Royal Bank of Canada cut their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research note on Monday, October 28th. Truist Financial cut their target price on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $460.78.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $449.77 on Friday. The firm has a 50-day moving average of $459.56 and a 200-day moving average of $465.87. Kinsale Capital Group has a one year low of $355.12 and a one year high of $548.47. The company has a market cap of $10.48 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data 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%. The company had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. As a group, equities analysts forecast that Kinsale Capital Group will post 15.67 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

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

Insiders Place Their Bets

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group 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 in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This trade 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 worth $3,618,954 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of Kinsale Capital Group by 11.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider’s stock valued at $93,000 after buying an additional 21 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Kinsale Capital Group by 4.6% in the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider’s stock valued at $267,000 after buying an additional 25 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Kinsale Capital Group by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider’s stock valued at $683,000 after buying an additional 25 shares in the last quarter. Caprock Group LLC raised its position in shares of Kinsale Capital Group by 1.7% in the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider’s stock valued at $769,000 after buying an additional 28 shares in the last quarter. Finally, Fielder Capital Group LLC raised its position in shares of Kinsale Capital Group by 5.5% in the 4th quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider’s stock valued at $277,000 after buying an additional 31 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.