Kinsale Capital Group’s (KNSL) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Kinsale Capital Group (NYSE:KNSL) in a research report report published on Monday, Marketbeat Ratings reports. They currently have a $350.00 price objective on the financial services provider’s stock, down from their previous price objective of $450.00.

Several other equities analysts have also weighed in on KNSL. Wells Fargo & Company assumed coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Jefferies Financial Group lowered shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Friday, March 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday. Finally, BMO Capital Markets lowered shares of 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 assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $419.09.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $346.65 on Monday. The firm’s 50-day moving average price is $369.69 and its 200-day moving average price is $393.77. Kinsale Capital Group has a 1-year low of $321.97 and a 1-year high of $512.76. The firm has a market capitalization of $8.03 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.13 and a beta of 1.08. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. During the same quarter in the prior year, the business earned $4.62 earnings per share. Equities research analysts anticipate that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group announced that its Board of Directors has initiated a share buyback program on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is currently 4.61%.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC grew its position in Kinsale Capital Group by 145.3% in the 2nd quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock worth $2,743,000 after purchasing an additional 3,357 shares in the last quarter. JPMorgan Chase & Co. grew its position in Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Kinsale Capital Group by 17.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock worth $9,569,000 after purchasing an additional 3,305 shares in the last quarter. Leibman Financial Services Inc. grew its position in Kinsale Capital Group by 109.9% in the 4th quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock worth $3,691,000 after purchasing an additional 4,942 shares in the last quarter. Finally, Ascent Group LLC grew its position in Kinsale Capital Group by 26.4% in the 3rd quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock worth $6,867,000 after purchasing an additional 3,375 shares in the last quarter. 85.36% of the stock is 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.