Kinsale Capital Group (NYSE:KNSL) Shares Gap Down - Here's What Happened

Key Points

• Kinsale Capital Group's shares gapped down from a previous close of $453.15 to open at $435.00, with last trading at $428.79 on a volume of 152,567 shares.
• Analysts have increased their price targets for Kinsale Capital Group, with BMO Capital Markets leading at $474.00, while the current consensus rating remains a "Hold" with an average target price of $506.89.
• The company reported a 5.21 EPS for the quarter, surpassing estimates, but net revenue of $405.06 million fell short of expectations of $446.00 million.

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $453.15, but opened at $435.00. Kinsale Capital Group shares last traded at $428.79, with a volume of 152,567 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Compass Point boosted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Kinsale Capital Group in a report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and an average target price of $506.89.

Kinsale Capital Group Stock Performance

The firm's fifty day moving average price is $447.35 and its 200-day moving average price is $459.37. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.67 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $405.06 million during the quarter, compared to analysts' expectations of $446.00 million. During the same quarter in the prior year, the business posted $4.20 EPS. The company's revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group's dividend payout ratio is currently 3.55%.

Institutional Trading of Kinsale Capital Group

A number of large investors have recently bought and sold shares of KNSL. Key Financial Inc raised its position in Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Kinsale Capital Group during the 1st quarter worth $31,000. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group during the 2nd quarter worth $31,000. Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group during the 2nd quarter worth $38,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Kinsale Capital Group in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 85.36% of the company's stock.

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.

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