Brokerages Set Kinsale Capital Group, Inc. (NYSE:KNSL) Price Target at $375.80

Kinsale Capital Group, Inc. (NYSE:KNSL) has earned an average recommendation of “Reduce” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $375.80.

A number of research firms have recently weighed in on KNSL. Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Morgan Stanley decreased their target price on shares of 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. Royal Bank Of Canada lowered their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Finally, Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th.

Insider Buying and Selling

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors have recently modified their holdings of the company. Salvus Wealth Management LLC lifted its position in shares of Kinsale Capital Group by 1.8% during the second quarter. Salvus Wealth Management LLC now owns 5,561 shares of the financial services provider’s stock worth $1,834,000 after purchasing an additional 97 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Kinsale Capital Group by 56.3% in the second quarter. Harbor Investment Advisory LLC now owns 469 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 169 shares in the last quarter. CX Institutional increased its stake in Kinsale Capital Group by 22.8% during the 2nd quarter. CX Institutional now owns 11,977 shares of the financial services provider’s stock worth $3,950,000 after buying an additional 2,224 shares during the period. Steelhead Wealth Management LLC purchased a new stake in Kinsale Capital Group during the 1st quarter worth approximately $781,000. Finally, Parallel Advisors LLC lifted its holdings in Kinsale Capital Group by 185.7% during the 1st quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider’s stock worth $41,000 after buying an additional 78 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Down 0.1%

NYSE KNSL opened at $343.49 on Friday. The business’s fifty day simple moving average is $317.62 and its 200-day simple moving average is $350.92. 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 firm has a market cap of $7.92 billion, a PE ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 0.90. Kinsale Capital Group has a 52 week low of $287.20 and a 52 week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data 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 net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the firm posted $3.71 earnings per share. Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts anticipate that Kinsale Capital Group will post 20.71 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

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.