Kinsale Capital Group (NYSE:KNSL) Shares Gap Up – What’s Next?

Kinsale Capital Group, Inc. (NYSE:KNSL)’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) 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.