Cantor Fitzgerald Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $422.00

Kinsale Capital Group (NYSE:KNSL) had its price target decreased by Cantor Fitzgerald from $470.00 to $422.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Cantor Fitzgerald currently has a neutral rating on the financial services provider’s stock.

KNSL has been the topic of a number of other research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. JPMorgan Chase & Co. cut their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. TD Cowen decreased their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Royal Bank Of Canada began coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $476.60.

Kinsale Capital Group Stock Down 0.2%

Shares of KNSL stock opened at $398.56 on Wednesday. The company’s fifty day simple moving average is $387.84 and its two-hundred day simple moving average is $427.61. Kinsale Capital Group has a 52 week low of $349.00 and a 52 week high of $512.76. The stock has a market cap of $9.27 billion, a P/E ratio of 19.58, a PEG ratio of 1.41 and a beta of 1.00. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

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

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 28th were given 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 payout ratio is 3.34%.

Kinsale Capital Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of KNSL. V Square Quantitative Management LLC bought a new position in Kinsale Capital Group in the 2nd quarter valued at $31,000. Johnson Financial Group Inc. boosted its stake in shares of Kinsale Capital Group by 257.1% during the third 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. Root Financial Partners LLC purchased a new stake in shares of Kinsale Capital Group during the third quarter valued at $33,000. Larson Financial Group LLC grew its holdings in shares of Kinsale Capital Group by 225.0% in the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 54 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group in the 2nd quarter worth about $38,000. 85.36% of the stock is owned by institutional investors.

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.