Kinsale Capital Group, Inc. (NYSE:KNSL) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Analysts have a consensus “Reduce” rating on Kinsale Capital Group, with two sell, seven hold, and one buy recommendation. The average 12-month price target is $368.78, below the stock’s reported opening price of $372.86.
• Kinsale reported strong quarterly results, earning $5.54 per share versus the $5.11 consensus estimate, while revenue rose 16.8% year over year to $548.52 million and exceeded expectations.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 0.3% yield. Institutional investors own 85.36% of the stock, while insiders hold 5.60%.

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) has been given an average recommendation of "Reduce" by the ten research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $368.7778.

Several research firms have recently commented on KNSL. Weiss Ratings upgraded shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wells Fargo & Company raised their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $372.86 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $485.00. The firm's fifty day simple moving average is $361.07 and its 200-day simple moving average is $344.36. The stock has a market cap of $8.49 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.21 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The firm had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period last year, the business posted $4.78 EPS. Kinsale Capital Group's quarterly revenue was up 16.8% on a year-over-year basis. Analysts expect that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio is currently 4.05%.

Insider Buying and Selling at Kinsale Capital Group

In other news, CAO Christopher Tangard bought 330 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer owned 380 shares of the company's stock, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KNSL. California State Teachers Retirement System boosted its holdings in Kinsale Capital Group by 32,446.1% in the 2nd quarter. California State Teachers Retirement System now owns 8,367,610 shares of the financial services provider's stock worth $2,759,721,000 after acquiring an additional 8,341,900 shares during the period. Bamco Inc. NY bought a new stake in Kinsale Capital Group in the second quarter valued at about $878,600,000. BlackRock Inc. bought a new position in Kinsale Capital Group during the 2nd quarter worth approximately $671,457,000. Capital World Investors grew its position in shares of Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock worth $386,366,000 after acquiring an additional 533,499 shares in the last quarter. Finally, First Manhattan CO. LLC. increased its holdings in shares of Kinsale Capital Group by 19.6% in the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock valued at $240,401,000 after acquiring an additional 100,600 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.