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

Key Points

• Kinsale Capital Group has a consensus analyst rating of "Reduce" from 11 covering firms, with an average 12-month price target of $374.90.
• The company recently beat quarterly expectations, posting EPS of $5.11 versus $4.70 expected and revenue of $466.71 million versus $410.25 million expected, while maintaining strong profitability metrics.
• Despite the positive earnings report, the stock traded at $308.19 and has seen multiple analysts cut price targets recently, reflecting more cautious sentiment around the shares.

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) have earned a consensus rating of "Reduce" from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $374.90.

Several equities analysts have recently commented on KNSL shares. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. Cantor Fitzgerald decreased their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Finally, Royal Bank Of Canada decreased their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a report on Monday, April 27th.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $308.19 on Monday. The firm has a 50 day simple moving average of $320.21 and a 200-day simple moving average of $358.05. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $512.76. 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 stock has a market cap of $7.11 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business had revenue of $466.71 million during the quarter, compared to analysts' expectations of $410.25 million. During the same quarter in the prior year, the company posted $3.71 EPS. The business's revenue for the quarter was down .5% on a year-over-year basis. On average, analysts expect that Kinsale Capital Group will post 20.65 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is currently 4.40%.

Insider Transactions at Kinsale Capital Group

In other news, insider Salmaan K. Allibhai sold 250 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher R. Tangard acquired 330 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its holdings in Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider's stock worth $760,616,000 after buying an additional 24,796 shares in the last quarter. Capital World Investors lifted its holdings in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock worth $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. lifted its holdings in Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock worth $240,401,000 after buying an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC lifted its holdings in Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider's stock worth $208,443,000 after buying an additional 10,137 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

About Kinsale Capital Group

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.

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