Kinsale Capital Group (NYSE:KNSL) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Kinsale Capital Group (NYSE:KNSL) in a research note released on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $593.00 price target on the financial services provider’s stock.

A number of other brokerages have also issued reports on KNSL. Wolfe Research raised shares of 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 report on Monday, October 28th. Truist Financial dropped their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. Royal Bank of Canada reduced their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets increased their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $472.00.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $498.78 on Thursday. Kinsale Capital Group has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $11.62 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The firm’s 50 day simple moving average is $469.74 and its 200-day simple moving average is $439.80.

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

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Insider Buying and Selling at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares of the company’s stock, valued at $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers grew its stake in Kinsale Capital Group by 148.9% during the first quarter. Cetera Investment Advisers now owns 5,021 shares of the financial services provider’s stock worth $2,635,000 after buying an additional 3,004 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Kinsale Capital Group during the 1st quarter worth approximately $383,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Kinsale Capital Group during the 1st quarter worth approximately $312,000. GAMMA Investing LLC increased its stake in Kinsale Capital Group by 39.6% in the second quarter. GAMMA Investing LLC now owns 275 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 78 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in Kinsale Capital Group during the second quarter valued at approximately $503,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.