Kinsale Capital Group (NYSE:KNSL) Shares Gap Down - What's Next?

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $501.97, but opened at $445.00. Kinsale Capital Group shares last traded at $433.79, with a volume of 93,340 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KNSL. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research report on Monday. JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Royal Bank of Canada reissued a "sector perform" rating and set a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley lowered their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Truist Financial lowered their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $473.75.

Kinsale Capital Group Stock Up 0.1 %

The company's 50-day moving average is $459.96 and its two-hundred day moving average is $462.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $10.13 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. The firm had revenue of $423.40 million during the quarter, compared to analysts' expectations of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $3.50 earnings per share. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio is 3.91%.

Institutional Trading of Kinsale Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Kinsale Capital Group by 11.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 21 shares during the last quarter. Ballentine Partners LLC grew its position in Kinsale Capital Group by 4.6% in the fourth quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider's stock worth $267,000 after buying an additional 25 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Kinsale Capital Group by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after acquiring an additional 25 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Kinsale Capital Group by 2.1% in the first quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock worth $627,000 after purchasing an additional 27 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Kinsale Capital Group by 1.7% during the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider's stock valued at $769,000 after purchasing an additional 28 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.