JMP Securities Reaffirms Market Perform Rating for Kinsale Capital Group (NYSE:KNSL)

JMP Securities reaffirmed their market perform rating on shares of Kinsale Capital Group (NYSE:KNSL) in a report released on Friday,Benzinga reports.

A number of other research analysts have also recently commented on the company. Truist Financial cut their target price on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley cut their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday. 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. Finally, BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $460.78.

Kinsale Capital Group Trading Down 7.7 %

Shares of NYSE KNSL opened at $449.77 on Friday. The business’s 50 day moving average is $461.05 and its two-hundred day moving average is $465.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group has a 1-year low of $355.12 and a 1-year high of $548.47. The stock has a market capitalization of $10.48 billion, a P/E ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. As a group, research analysts expect that Kinsale Capital Group will post 15.67 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Insider Buying and Selling

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now owns 447 shares of the company’s stock, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock valued at $3,618,954 over the last quarter. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

Hedge funds have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in shares of Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $46,000. 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.