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

Kinsale Capital Group (NYSE:KNSL) had its price objective raised by Truist Financial from $480.00 to $525.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on KNSL. JPMorgan Chase & Co. decreased their price target 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. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. 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 report on Monday, October 28th. BMO Capital Markets upped 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 report on Thursday, November 21st. Finally, 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 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’s stock. According to MarketBeat, Kinsale Capital Group has an average rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Trading Up 0.4 %

Kinsale Capital Group stock opened at $442.05 on Tuesday. The stock has a market cap of $10.29 billion, a P/E ratio of 24.85, a PEG ratio of 1.63 and a beta of 1.15. Kinsale Capital Group has a fifty-two week low of $355.12 and a fifty-two week high of $548.47. The firm’s fifty day moving average price is $455.49 and its 200-day moving average price is $465.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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 for the quarter, topping the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Equities research analysts forecast that Kinsale Capital Group will post 18.06 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 given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.15%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the 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 sale, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of the 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 sale, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

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