BMO Capital Markets Boosts Kinsale Capital Group (NYSE:KNSL) Price Target to $461.00

Kinsale Capital Group (NYSE:KNSL) had its target price upped by BMO Capital Markets from $445.00 to $461.00 in a report released on Thursday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Truist Financial decreased their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average target price of $456.88.

Kinsale Capital Group Stock Up 1.8 %

NYSE:KNSL opened at $498.69 on Thursday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $460.24 and a 200-day moving average of $432.17. The firm has a market capitalization of $11.61 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Kinsale Capital Group has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The firm had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm’s revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.31 EPS. Analysts predict that Kinsale Capital Group will post 15.52 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds have recently made changes to their positions in KNSL. O Shaughnessy Asset Management LLC acquired a new stake in Kinsale Capital Group during the first quarter valued at approximately $301,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Kinsale Capital Group by 18.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 14,836 shares of the financial services provider’s stock valued at $7,776,000 after acquiring an additional 2,302 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of Kinsale Capital Group by 142.9% during the 1st quarter. Quadrature Capital Ltd now owns 17,838 shares of the financial services provider’s stock worth $9,364,000 after acquiring an additional 10,495 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of Kinsale Capital Group by 171.6% in the 1st quarter. Hood River Capital Management LLC now owns 35,470 shares of the financial services provider’s stock worth $18,613,000 after acquiring an additional 22,410 shares during the last quarter. Finally, Ascent Group LLC raised its position in shares of Kinsale Capital Group by 7.9% during the first quarter. Ascent Group LLC now owns 4,029 shares of the financial services provider’s stock worth $2,114,000 after purchasing an additional 294 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.