JPMorgan Chase & Co. Issues Positive Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price target boosted by JPMorgan Chase & Co. from $380.00 to $390.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on KNSL. Morgan Stanley lowered their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Truist Financial reduced their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wells Fargo & Company upped their target price on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $373.80.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $350.31 on Monday. The firm’s 50 day simple moving average is $318.62 and its 200 day simple moving average is $350.60. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $8.08 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.71 EPS. As a group, analysts expect that Kinsale Capital Group will post 20.71 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Insider Transactions at Kinsale Capital Group

In related news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. The trade was a 660.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction 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 owned 3,645 shares of the company’s stock, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of KNSL. Bayban bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in Kinsale Capital Group in the 4th quarter worth approximately $25,000. eCIO Inc. purchased a new stake in Kinsale Capital Group in the fourth quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. boosted its stake in 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 worth $32,000 after buying an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.