Kinsale Capital Group (NYSE:KNSL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Kinsale Capital Group (NYSE:KNSL) from a sell rating to a hold rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Royal Bank Of Canada assumed coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 8th. TD Cowen cut their target price on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Morgan Stanley decreased their price target on shares of Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and an average price target of $483.78.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $390.91 on Friday. Kinsale Capital Group has a 52 week low of $349.00 and a 52 week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $408.53 and its 200 day simple moving average is $440.38. The firm has a market capitalization of $9.09 billion, a PE ratio of 19.20, a P/E/G ratio of 1.40 and a beta of 0.96.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.79 by $0.42. The company had revenue of $497.51 million during the quarter, compared to analysts’ expectations of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.20 earnings per share. On average, equities research analysts predict that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group declared that its board has authorized a share buyback program on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Epoch Investment Partners Inc. increased its stake in Kinsale Capital Group by 1.1% during the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 23 shares during the last quarter. Vident Advisory LLC increased its position in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares in the last quarter. UMB Bank n.a. raised its holdings in Kinsale Capital Group by 11.3% in the second quarter. UMB Bank n.a. now owns 237 shares of the financial services provider’s stock valued at $115,000 after buying an additional 24 shares during the period. Total Clarity Wealth Management Inc. lifted its position in Kinsale Capital Group by 3.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 716 shares of the financial services provider’s stock valued at $346,000 after buying an additional 25 shares in the last quarter. Finally, Portside Wealth Group LLC grew its stake in Kinsale Capital Group by 1.4% during the second quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock worth $900,000 after buying an additional 25 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.