Kinsale Capital Group (NYSE:KNSL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets increased its target price for Kinsale Capital Group from $429.00 to $474.00, suggesting a potential upside of 0.42% from the stock's previous close.
• Various analysts, including Morgan Stanley and Truist Financial, have raised their target prices for Kinsale Capital Group in recent reports, with consensus ratings mostly indicating a "hold."
• Kinsale Capital Group's revenue rose by 22.2% year-over-year, with the company reporting $4.78 earnings per share, surpassing analysts’ expectations.

Kinsale Capital Group (NYSE:KNSL - Free Report) had its price target boosted by BMO Capital Markets from $429.00 to $474.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider's stock.

Several other research firms also recently weighed in on KNSL. Bank of America started coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 target price on the stock. Compass Point boosted their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Truist Financial lifted their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and a consensus target price of $506.44.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $6.84 during trading hours on Tuesday, hitting $443.51. 219,729 shares of the company were exchanged, compared to its average volume of 228,857. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.68 and a beta of 1.19. Kinsale Capital Group has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company's 50 day moving average price is $473.13 and its 200-day moving average price is $462.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. The company had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. Kinsale Capital Group's revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.75 EPS. As a group, research analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a yield of 0.15%. The ex-dividend date was Thursday, May 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of large investors have recently added to or reduced their stakes in KNSL. Geode Capital Management LLC raised its position 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 buying an additional 16,246 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Kinsale Capital Group by 6.2% in the first quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock valued at $263,233,000 after buying an additional 31,480 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Kinsale Capital Group by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after buying an additional 131,056 shares during the last quarter. Geneva Capital Management LLC raised its position in shares of Kinsale Capital Group by 0.6% in the first quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider's stock valued at $197,294,000 after buying an additional 2,449 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Kinsale Capital Group by 59,220.7% in the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after buying an additional 308,540 shares during 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.