Wells Fargo & Company Issues Positive Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective increased by Wells Fargo & Company from $366.00 to $377.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

KNSL has been the subject of several other reports. Truist Financial dropped their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Cantor Fitzgerald decreased their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Finally, Morgan Stanley dropped their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $362.11.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $361.61 on Monday. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $486.00. The company’s 50 day moving average price is $321.90 and its two-hundred day moving average price is $348.74. The firm has a market cap of $8.34 billion, a PE ratio of 14.65, a PEG ratio of 1.12 and a beta of 0.90. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.78 earnings per share. Equities research analysts predict that Kinsale Capital Group will post 20.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.05%.

Insider Activity

In related news, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently made changes to their positions in the stock. Isthmus Partners LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $8,110,000. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the 4th quarter worth $229,653,000. Tudor Investment Corp ET AL grew its position in Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after acquiring an additional 37,221 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in Kinsale Capital Group by 37.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock worth $81,382,000 after purchasing an additional 56,916 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock worth $22,294,000 after purchasing an additional 5,000 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.