Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Average Rating of "Hold" from Brokerages

Key Points

• Kinsale Capital Group now has a consensus analyst rating of “Hold” from 12 brokerages, with a mix of two sell, eight hold, and two buy ratings. The average 1-year price target is about $390.18.
• The stock has seen several recent rating changes, including target cuts from Truist, Wells Fargo, and Morgan Stanley, while BMO Capital Markets downgraded it to underperform.
• Kinsale reported better-than-expected quarterly results, posting EPS of $5.11 versus estimates of $4.70 and revenue of $466.71 million versus $410.25 million expected. The company also declared a quarterly dividend of $0.25 per share.

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) have earned a consensus rating of "Hold" from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $390.1818.

KNSL has been the topic of several recent research reports. Truist Financial cut 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 research report on Monday, April 27th. BMO Capital Markets lowered shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective on the stock. in a research report on Wednesday, February 25th. Wells Fargo & Company lowered shares of Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $420.00 to $357.00 in a research report on Monday, April 27th. Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, April 27th. Finally, Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the firm'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 transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of KNSL. AQR Capital Management LLC lifted its stake in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after buying an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after buying an additional 43 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock worth $541,000 after buying an additional 82 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock worth $531,000 after buying an additional 634 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock worth $2,430,000 after buying an additional 1,566 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

KNSL stock opened at $306.79 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $7.07 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.01 and a beta of 0.95. The firm has a 50 day simple moving average of $331.70 and a 200 day simple moving average of $367.75. Kinsale Capital Group has a 52 week low of $293.78 and a 52 week high of $512.76.

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 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $3.71 earnings per share. Research analysts anticipate that Kinsale Capital Group will post 20.58 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.40%.

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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