Kinsale Capital Group (NYSE:KNSL) Hits New 1-Year Low – Here’s Why

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $321.52 and last traded at $322.7250, with a volume of 130030 shares traded. The stock had previously closed at $331.03.

Wall Street Analyst Weigh In

KNSL has been the subject of several analyst reports. Cantor Fitzgerald cut their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Morgan Stanley restated an “equal weight” rating and set a $350.00 target price (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a research report on Wednesday, February 25th. Finally, Truist Financial cut their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $392.00.

Kinsale Capital Group Trading Down 2.2%

The stock has a market cap of $7.49 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a 50-day simple moving average of $354.05 and a 200-day simple moving average of $382.69.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.71 earnings per share. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.34 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is presently 4.40%.

Hedge Funds Weigh In On Kinsale Capital Group

Large investors have recently bought and sold shares of the business. Bayban bought a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. acquired a new stake in Kinsale Capital Group during the 4th quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. grew its holdings in Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.