Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $360.00 at Cantor Fitzgerald

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by Cantor Fitzgerald from $422.00 to $360.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on KNSL. Wells Fargo & Company started coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. TD Cowen lowered their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $457.00.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $376.99 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09. The business’s fifty day moving average price is $395.05 and its two-hundred day moving average price is $414.88. Kinsale Capital Group has a fifty-two week low of $341.06 and a fifty-two week high of $512.76. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, beating the consensus estimate of $5.30 by $0.51. The company had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same quarter in the previous year, the company earned $4.62 EPS. As a group, analysts predict that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group declared that its board has authorized a stock buyback plan on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s payout ratio is 3.14%.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in Kinsale Capital Group during the 4th quarter worth about $25,000. eCIO Inc. bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. Johnson Financial Group Inc. grew its holdings in shares of Kinsale Capital Group by 257.1% during 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. Finally, Root Financial Partners LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.