Kinsale Capital Group (NYSE:KNSL) Shares Gap Up – Still a Buy?

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price gapped up before the market opened on Friday . The stock had previously closed at $319.61, but opened at $339.00. Kinsale Capital Group shares last traded at $345.9980, with a volume of 20,224 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Royal Bank Of Canada cut their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Truist Financial cut their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Finally, Cantor Fitzgerald decreased their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group has a consensus rating of “Reduce” and a consensus target price of $375.80.

Kinsale Capital Group Price Performance

The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 0.90. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $317.62 and a two-hundred day simple moving average of $351.23.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same period last year, the company posted $3.71 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 20.71 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Insider Buying and Selling

In other news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

A number of large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $25,000. Bayban bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. acquired a new position in shares of Kinsale Capital Group in the 4th quarter worth $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. grew its holdings in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the last quarter. 85.36% of the stock is currently owned by 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.