Kinsale Capital Group (NYSE:KNSL) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Kinsale Capital Group (NYSE:KNSL) in a report released on Tuesday morning,Benzinga reports. They currently have a $500.00 price objective on the financial services provider’s stock.

KNSL has been the subject of several other reports. Morgan Stanley cut their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, 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. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $441.50 on Tuesday. 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 has a 12 month low of $355.12 and a 12 month high of $548.47. The company has a 50 day simple moving average of $458.10 and a two-hundred day simple moving average of $465.89. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 25.17, 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 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. As a group, analysts predict that Kinsale Capital Group will post 15.67 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

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

Insider Buying and Selling

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the transaction, the director now directly owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, 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 ninety days, insiders have sold 7,235 shares of company stock worth $3,618,954. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Kinsale Capital Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock valued at $983,137,000 after purchasing an additional 29,553 shares during the last quarter. State Street Corp increased its stake in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after purchasing an additional 8,954 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 544,954 shares of the financial services provider’s stock valued at $254,441,000 after acquiring an additional 16,246 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after acquiring an additional 44,931 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after acquiring an additional 5,207 shares during the period. 85.36% of the stock is currently owned by hedge funds and other 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.