Cantor Fitzgerald Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $280.00

Kinsale Capital Group (NYSE:KNSL) had its price objective decreased by Cantor Fitzgerald from $360.00 to $280.00 in a report issued on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Truist Financial lowered their price target on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $392.00 to $312.00 in a report on Thursday, March 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a report on Monday, April 6th. Wells Fargo & Company started coverage on Kinsale Capital Group in a report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective on the stock. Finally, BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $405.45.

Kinsale Capital Group Trading Down 3.6%

NYSE KNSL opened at $348.68 on Thursday. The stock’s 50-day simple moving average is $366.60 and its two-hundred day simple moving average is $391.95. Kinsale Capital Group has a twelve month low of $321.97 and a twelve month high of $512.76. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.14 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. During the same quarter last year, the business posted $4.62 earnings per share. Research analysts forecast that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a $0.25 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.61%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KNSL. AQR Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after buying an additional 361 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Kinsale Capital Group by 125.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,891 shares of the financial services provider’s stock worth $7,206,000 after purchasing an additional 8,272 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 82 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

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.