Kinsale Capital Group (NYSE:KNSL) Coverage Initiated by Analysts at Bank of America

Bank of America initiated coverage on shares of Kinsale Capital Group (NYSE:KNSL) in a report released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $543.00 price target on the financial services provider’s stock.

Several other brokerages have also recently weighed in on KNSL. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Truist Financial decreased their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Morgan Stanley increased their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $491.88.

Kinsale Capital Group Trading Up 3.2%

Shares of Kinsale Capital Group stock opened at $475.68 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11. The stock’s 50 day simple moving average is $464.49 and its 200-day simple moving average is $460.94. The stock has a market cap of $11.09 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.74 and a beta of 1.20. Kinsale Capital Group has a 1-year low of $366.92 and a 1-year high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.56. The firm had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.50 earnings per share. Analysts predict that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.91%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president now directly owns 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Key Financial Inc lifted its stake in Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Kinsale Capital Group during the first quarter worth $31,000. Bank of Jackson Hole Trust acquired a new position in Kinsale Capital Group during the fourth quarter worth $31,000. NBC Securities Inc. acquired a new position in Kinsale Capital Group during the first quarter worth $35,000. Finally, Larson Financial Group LLC lifted its stake in Kinsale Capital Group by 7,400.0% during the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 74 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.