Kinsale Capital Group (NYSE:KNSL) Hits New 52-Week High After Analyst Upgrade

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price hit a new 52-week high during trading on Thursday after Jefferies Financial Group raised their price target on the stock from $370.00 to $396.00. Jefferies Financial Group currently has a hold rating on the stock. Kinsale Capital Group traded as high as $405.61 and last traded at $405.61, with a volume of 2095 shares. The stock had previously closed at $403.01.

Other research analysts also recently issued research reports about the company. Truist Financial increased their price target on Kinsale Capital Group from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Royal Bank of Canada raised their target price on Kinsale Capital Group from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. BMO Capital Markets raised Kinsale Capital Group from an “underperform” rating to an “outperform” rating and upped their price target for the company from $270.00 to $389.00 in a research note on Friday, June 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $300.00 to $340.00 in a research note on Thursday, July 6th. Finally, StockNews.com initiated coverage on shares of Kinsale Capital Group in a research note on Wednesday, August 23rd. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $393.33.

Insiders Place Their Bets

In related news, COO Brian D. Haney sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $349.94, for a total value of $524,910.00. Following the completion of the transaction, the chief operating officer now directly owns 70,831 shares of the company’s stock, valued at approximately $24,786,600.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $375.00, for a total value of $937,500.00. Following the sale, the chief operating officer now directly owns 68,331 shares in the company, valued at $25,624,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian D. Haney sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $349.94, for a total transaction of $524,910.00. Following the completion of the sale, the chief operating officer now directly owns 70,831 shares in the company, valued at approximately $24,786,600.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,000 shares of company stock worth $2,969,690. Company insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of Kinsale Capital Group by 3.8% in the 4th quarter. Arizona State Retirement System now owns 6,139 shares of the financial services provider’s stock valued at $1,605,000 after buying an additional 225 shares during the last quarter. California Public Employees Retirement System grew its holdings in Kinsale Capital Group by 56.9% during the fourth quarter. California Public Employees Retirement System now owns 80,021 shares of the financial services provider’s stock worth $20,927,000 after purchasing an additional 29,010 shares during the period. Charles Schwab Investment Management Inc. increased its position in Kinsale Capital Group by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 229,820 shares of the financial services provider’s stock worth $68,980,000 after buying an additional 1,426 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Kinsale Capital Group by 148.8% in the fourth quarter. First Horizon Advisors Inc. now owns 107 shares of the financial services provider’s stock valued at $28,000 after buying an additional 64 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at approximately $314,000. 83.68% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

The business has a fifty day moving average of $378.57 and a two-hundred day moving average of $341.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 41.64 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 27th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.40. Kinsale Capital Group had a net margin of 22.60% and a return on equity of 29.11%. The company had revenue of $295.77 million during the quarter, compared to analysts’ expectations of $282.01 million. During the same quarter last year, the company posted $1.92 EPS. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 11.56 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Monday, August 28th. Kinsale Capital Group’s payout ratio is 5.69%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.