Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $525.00 at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its price objective upped by Truist Financial from $480.00 to $525.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets increased 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 report on Thursday, November 21st. 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 on the stock in a report on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Morgan Stanley cut their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Price Performance

KNSL opened at $441.50 on Tuesday. Kinsale Capital Group has a one year low of $355.12 and a one year high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company’s 50 day simple moving average is $458.10 and its 200-day simple moving average is $465.89. The stock has a market capitalization of $10.28 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate 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 business had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Sell-side analysts anticipate that Kinsale Capital Group will post 15.67 earnings per share for the current fiscal 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 $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.42%.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated 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 completion of the transaction, the director now owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,235 shares of company stock worth $3,618,954. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Kinsale Capital Group by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock valued at $983,137,000 after acquiring an additional 29,553 shares during the period. State Street Corp grew its position in shares of Kinsale Capital Group by 1.3% in the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares during the period. Geode Capital Management LLC grew its position in shares of Kinsale Capital Group by 3.1% in the 4th 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 grew its position in shares of Kinsale Capital Group by 9.6% in the 4th 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 grew its position in shares of Kinsale Capital Group by 1.3% in the 3rd 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. Institutional investors own 85.36% of the company’s stock.

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.