Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $422.00 at Cantor Fitzgerald

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by Cantor Fitzgerald from $470.00 to $422.00 in a report issued on Wednesday morning, MarketBeat.com reports. They currently have a neutral rating on the financial services provider’s stock.

KNSL has been the subject of several other research reports. Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. TD Cowen decreased their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $475.11.

Kinsale Capital Group Stock Up 4.1%

Shares of NYSE KNSL opened at $396.41 on Wednesday. The stock has a market cap of $9.22 billion, a P/E ratio of 19.47, a PEG ratio of 1.34 and a beta of 1.00. The business’s fifty day simple moving average is $387.70 and its 200-day simple moving average is $428.40. Kinsale Capital Group has a 12-month low of $349.00 and a 12-month high of $512.76. 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 (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. During the same quarter last year, the company earned $4.20 EPS. Kinsale Capital Group’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities 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 disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Kinsale Capital Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group during the 2nd quarter worth approximately $31,000. Johnson Financial Group Inc. boosted its holdings in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares during the period. Root Financial Partners LLC purchased a new position in shares of Kinsale Capital Group during the third quarter worth approximately $33,000. Larson Financial Group LLC increased its holdings in shares of Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 54 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $38,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.