Kinsale Capital Group, Inc. (NYSE:KNSL) Receives $468.56 Average Price Target from Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have earned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $468.56.

Several equities research analysts recently issued reports on KNSL shares. Truist Financial raised their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley dropped 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 note on Friday, February 14th. BMO Capital Markets lifted their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $435.03 on Tuesday. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.66 and a beta of 1.25. Kinsale Capital Group has a 52 week low of $355.12 and a 52 week high of $548.47. The company’s 50-day moving average price is $444.49 and its 200 day moving average price is $462.86. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. As a group, research analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company 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 an increase 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 dividend yield of 0.16%. Kinsale Capital Group’s payout ratio is 3.82%.

Insider Activity

In related 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 transaction of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Kinsale Capital Group in the fourth quarter worth about $89,200,000. Alliancebernstein L.P. grew its stake in Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock valued at $99,559,000 after acquiring an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd grew its stake in shares of Kinsale Capital Group by 20,286.0% in the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock valued at $48,813,000 after buying an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock valued at $32,885,000 after buying an additional 64,900 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after buying an additional 58,971 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.