Kinsale Capital Group (NYSE:KNSL) Stock Price Down 3.1% After Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL)’s share price fell 3.1% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. 16,298 shares were traded during trading, a decline of 80% from the average session volume of 82,935 shares. The stock had previously closed at $454.02.

Other equities analysts also recently issued research reports about the company. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research report on Monday, October 28th. BMO Capital Markets boosted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Morgan Stanley began coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial reduced their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $471.11.

Insider Activity at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director now owns 447 shares in the company, valued at $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,235 shares of company stock valued at $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. boosted its position in shares of Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Signaturefd LLC grew its stake in shares of Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after buying an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares during the period. Finally, American National Bank & Trust acquired a new position in Kinsale Capital Group during the 3rd quarter worth about $55,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 4.7 %

The company has a market capitalization of $10.07 billion, a PE ratio of 24.66, a PEG ratio of 2.16 and a beta of 1.13. 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 business has a fifty day moving average of $475.73 and a 200 day moving average of $453.39.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $359.43 million. During the same quarter last year, the firm posted $3.31 earnings per share. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

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.