Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $500.00 by Analysts at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by Truist Financial from $530.00 to $500.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a report on Monday. Jefferies Financial Group boosted their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Finally, Oppenheimer initiated coverage on Kinsale Capital Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $455.88.

Kinsale Capital Group Trading Up 0.9 %

NYSE KNSL opened at $438.01 on Monday. The company’s 50-day simple moving average is $466.94 and its two-hundred day simple moving average is $427.53. Kinsale Capital Group has a one year low of $325.01 and a one year high of $548.47. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13.

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. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the firm 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. Equities analysts forecast that Kinsale Capital Group will post 15.05 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Kinsale Capital Group by 19.8% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 4,494 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 744 shares during the last quarter. Americana Partners LLC raised its position in Kinsale Capital Group by 33.8% during the third quarter. Americana Partners LLC now owns 800 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 202 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its position in Kinsale Capital Group by 1.6% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 35,608 shares of the financial services provider’s stock worth $16,578,000 after purchasing an additional 567 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Kinsale Capital Group by 9.2% during the 3rd quarter. Stephens Inc. AR now owns 926 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 78 shares during the period. Finally, Congress Asset Management Co. increased its holdings in shares of Kinsale Capital Group by 8.0% during the 3rd quarter. Congress Asset Management Co. now owns 47,066 shares of the financial services provider’s stock valued at $21,913,000 after purchasing an additional 3,498 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, 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.