Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $500.00 at Morgan Stanley

Kinsale Capital Group (NYSE:KNSL) had its target price trimmed by Morgan Stanley from $525.00 to $500.00 in a research report released on Tuesday, Marketbeat.com reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America initiated coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They issued a “buy” rating and a $543.00 price objective for the company. Truist Financial upped their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 28th. Compass Point upped their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a “hold” rating in a report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $503.30.

Kinsale Capital Group Trading Down 0.4%

Shares of NYSE:KNSL opened at $472.77 on Tuesday. The stock has a market capitalization of $11.02 billion, a PE ratio of 24.66, a P/E/G ratio of 1.74 and a beta of 1.09. Kinsale Capital Group has a 1 year low of $405.00 and a 1 year high of $531.79. The firm has a fifty day moving average price of $443.30 and a 200 day moving average price of $460.89. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million during the quarter, compared to analysts’ expectations of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. Kinsale Capital Group’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.75 earnings per share. Analysts expect that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.55%.

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors have recently added to or reduced their stakes in KNSL. NBC Securities Inc. acquired a new stake in Kinsale Capital Group during the first quarter worth about $35,000. Merit Financial Group LLC acquired a new stake in Kinsale Capital Group during the first quarter worth about $441,000. UMB Bank n.a. grew its position in Kinsale Capital Group by 108.8% during the first quarter. UMB Bank n.a. now owns 213 shares of the financial services provider’s stock worth $104,000 after buying an additional 111 shares in the last quarter. Park Avenue Securities LLC grew its position in Kinsale Capital Group by 2.0% during the first quarter. Park Avenue Securities LLC now owns 2,724 shares of the financial services provider’s stock worth $1,326,000 after buying an additional 54 shares in the last quarter. Finally, Portside Wealth Group LLC grew its position in Kinsale Capital Group by 206.3% during the first quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider’s stock worth $893,000 after buying an additional 1,236 shares in the last quarter. 85.36% of the stock is 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.