Wolfe Research Lowers Kinsale Capital Group (NYSE:KNSL) to Peer Perform

Wolfe Research lowered shares of Kinsale Capital Group (NYSE:KNSL) from an outperform rating to a peer perform rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

KNSL has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Truist Financial raised their target price on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the company a buy rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a sector perform rating in a report on Monday, July 29th. TD Cowen started coverage on shares of Kinsale Capital Group in a report on Monday, May 20th. They issued a hold rating and a $403.00 price target for the company. Finally, Oppenheimer started coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They issued a market perform rating for the company. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $443.38.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $453.60 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market capitalization of $10.56 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.98 and a beta of 1.08. The company’s 50-day simple moving average is $449.44 and its two-hundred day simple moving average is $435.89. Kinsale Capital Group has a one year low of $325.01 and a one year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The firm had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same period last year, the firm earned $2.88 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities analysts anticipate that Kinsale Capital Group will post 15.31 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cim LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth $1,934,000. Axiom Investors LLC DE grew its position in Kinsale Capital Group by 116.3% during the fourth quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock valued at $14,781,000 after buying an additional 23,728 shares during the period. Janney Montgomery Scott LLC grew its position in Kinsale Capital Group by 113.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock valued at $2,148,000 after buying an additional 2,172 shares during the period. The Manufacturers Life Insurance Company grew its position in Kinsale Capital Group by 129.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock valued at $14,814,000 after buying an additional 24,992 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Kinsale Capital Group by 249.2% during the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after buying an additional 3,818 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.