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

Key Points

• Kinsale Capital Group shares gapped up ahead of trading, opening at $339.00 after closing at $319.61 and last trading near $345.99.
• Recent analyst action has been mixed, with Wells Fargo raising its price target to $366 while other firms cut ratings or targets; the stock’s overall consensus rating is now "Reduce" with an average target price of $375.80.
• The company recently beat quarterly earnings estimates, reporting $5.11 EPS versus $4.70 expected, alongside strong profitability metrics such as a 27.48% net margin and 25.82% return on equity.

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $319.61, but opened at $339.00. Kinsale Capital Group shares last traded at $345.9980, with a volume of 20,224 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KNSL. Wells Fargo & Company lifted their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, June 26th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. Finally, Morgan Stanley decreased their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of "Reduce" and an average target price of $375.80.

Kinsale Capital Group Price Performance

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 business has a 50-day moving average of $316.85 and a 200 day moving average of $351.28. The firm has a market capitalization of $7.99 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period in the previous year, the firm earned $3.71 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Insider Buying and Selling

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors have recently modified their holdings of KNSL. V Square Quantitative Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth $25,000. Bayban purchased a new position in Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. bought a new position in Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new position in Kinsale Capital Group in the 4th quarter valued at $29,000. Finally, Johnson Financial Group Inc. grew its stake in Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 54 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.