Kinsale Capital Group, Inc. (NYSE:KNSL) Given Average Recommendation of “Hold” by Brokerages

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) have been assigned an average recommendation of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $419.0909.

Several equities analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Friday, March 27th. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $350.00 target price (down from $450.00) on shares of Kinsale Capital Group in a report on Monday. Finally, Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th.

Institutional Investors Weigh In On Kinsale Capital Group

A number of large investors have recently bought and sold shares of KNSL. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group during the 4th quarter valued at $229,653,000. Capital World Investors grew its holdings in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares during the last quarter. Norges Bank acquired a new stake in Kinsale Capital Group during the 4th quarter valued at $107,916,000. First Manhattan CO. LLC. grew its holdings in Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after buying an additional 100,600 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Kinsale Capital Group by 2,621.6% during the 4th quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock valued at $35,638,000 after buying an additional 87,770 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $345.37 on Wednesday. Kinsale Capital Group has a 1-year low of $321.97 and a 1-year high of $512.76. The company has a market capitalization of $8.00 billion, a P/E ratio of 15.94, a PEG ratio of 1.13 and a beta of 1.08. The business has a 50 day moving average price of $368.87 and a 200 day moving average price of $393.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.08.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. During the same period last year, the business posted $4.62 EPS. Sell-side analysts expect that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is currently 4.61%.

Kinsale Capital Group announced that its Board of Directors has approved a share repurchase plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.