Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $450.00 by Analysts at JPMorgan Chase & Co.

Kinsale Capital Group (NYSE:KNSL) had its price objective trimmed by JPMorgan Chase & Co. from $460.00 to $450.00 in a report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also commented on KNSL. Truist Financial upped their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Compass Point upped their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Cantor Fitzgerald raised Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Morgan Stanley reduced their target price on Kinsale Capital Group from $525.00 to $500.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, BMO Capital Markets upped their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and an average price target of $502.13.

Kinsale Capital Group Trading Up 2.0%

Kinsale Capital Group stock opened at $430.88 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12 month low of $405.00 and a 12 month high of $531.79. The stock’s 50 day simple moving average is $446.60 and its two-hundred day simple moving average is $459.05. The firm has a market cap of $10.04 billion, a PE ratio of 21.16, a P/E/G ratio of 1.56 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, topping the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The business had revenue of $405.06 million for the quarter, compared to analyst estimates of $446.00 million. During the same quarter in the prior year, the firm posted $4.20 EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. Analysts anticipate that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in Kinsale Capital Group in the 3rd quarter valued at $43,000. Unified Investment Management acquired a new position in Kinsale Capital Group in the 3rd quarter valued at $442,000. MGO One Seven LLC raised its stake in Kinsale Capital Group by 7.5% in the 3rd quarter. MGO One Seven LLC now owns 1,511 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 106 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in Kinsale Capital Group by 6.5% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 839 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 51 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Kinsale Capital Group by 62.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,913 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 732 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.