Kinsale Capital Group (NYSE:KNSL) Shares Gap Down to $453.09

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $453.09, but opened at $392.00. Kinsale Capital Group shares last traded at $378.05, with a volume of 192,918 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. BMO Capital Markets cut shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $434.00 to $544.00 in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $510.00.

Kinsale Capital Group Trading Down 17.3 %

The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 24.89 and a beta of 0.89. The company’s 50 day moving average is $491.62 and its 200 day moving average is $415.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 32.92%. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now owns 887 shares of the company’s stock, valued at approximately $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $25,000. Emerald Advisers LLC bought a new stake in shares of Kinsale Capital Group in the 3rd quarter worth about $33,000. Brown Brothers Harriman & Co. bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $33,000. Beacon Capital Management LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $33,000. Finally, Quarry LP bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $40,000. Institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.