Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $450.00 at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by Truist Financial from $510.00 to $450.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Wells Fargo & Company started coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 price objective on shares of Kinsale Capital Group in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $457.00.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $376.99 on Tuesday. Kinsale Capital Group has a 52-week low of $341.06 and a 52-week high of $512.76. The company has a fifty day moving average of $395.05 and a 200-day moving average of $414.88. The company has a market capitalization of $8.77 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.08.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS 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 analysts’ expectations of $467.66 million. During the same quarter in the prior year, the firm earned $4.62 earnings per share. As a group, equities research analysts predict that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

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

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued 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 is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.14%.

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. AQR Capital Management LLC boosted its holdings in Kinsale Capital Group by 55.4% in the fourth quarter. AQR Capital Management LLC now owns 4,514 shares of the financial services provider’s stock valued at $1,766,000 after acquiring an additional 1,610 shares in the last quarter. DF Dent & Co. Inc. lifted its position in shares of Kinsale Capital Group by 19.2% in the 4th quarter. DF Dent & Co. Inc. now owns 315,756 shares of the financial services provider’s stock worth $123,498,000 after purchasing an additional 50,846 shares during the period. Trexquant Investment LP purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $3,702,000. Amundi bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at about $569,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Kinsale Capital Group by 2.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,910 shares of the financial services provider’s stock valued at $14,046,000 after buying an additional 705 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.