Kinsale Capital Group (NYSE:KNSL) Hits New 1-Year Low - Here's Why

Key Points

• Kinsale Capital Group hit a new 52-week low of $321.52 on Thursday and was last trading around $322.73 on volume of 130,030 shares.
• Several analysts have cut ratings and price targets (Jefferies to $312, Cantor Fitzgerald to $280), leaving a MarketBeat consensus rating of Hold with a $392 consensus price target.
• The company beat quarterly EPS estimates ($5.11 vs. $4.70) with revenue of $466.7M (down 0.5% YoY), raised its quarterly dividend to $0.25, and has a $7.49B market cap with about 85% institutional ownership.

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $321.52 and last traded at $322.7250, with a volume of 130030 shares trading hands. The stock had previously closed at $331.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group downgraded Kinsale Capital Group from a "hold" rating to an "underperform" rating and reduced their target price for the company from $392.00 to $312.00 in a report on Thursday, March 19th. JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. BMO Capital Markets downgraded Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective for the company. in a research note on Wednesday, February 25th. Truist Financial cut their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research note on Monday. Finally, Cantor Fitzgerald cut their price target on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $392.00.

Kinsale Capital Group Price Performance

The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. The stock has a fifty day simple moving average of $354.05 and a 200-day simple moving average of $382.69. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter last year, the firm earned $3.71 EPS. Kinsale Capital Group's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 20.34 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, February 26th. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.17. Kinsale Capital Group's payout ratio is 4.40%.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently modified their holdings of KNSL. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Capital World Investors grew its holdings in shares of 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 purchasing an additional 533,499 shares in the last quarter. Norges Bank bought a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $107,916,000. First Manhattan CO. LLC. lifted its position in shares of 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 during the period. Finally, M&T Bank Corp lifted its position in shares of Kinsale Capital Group by 2,621.6% during the 4th quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider's stock worth $35,638,000 after buying an additional 87,770 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

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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