Kinsale Capital Group (KNSL) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Kinsale Capital Group (NASDAQ:KNSL) from a buy rating to a hold rating in a report released on Monday.

According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “

A number of other research analysts have also recently issued reports on KNSL. SunTrust Banks reissued a buy rating and issued a $50.00 target price on shares of Kinsale Capital Group in a research note on Monday, October 9th. They noted that the move was a valuation call. William Blair cut Kinsale Capital Group from an outperform rating to a market perform rating in a research note on Monday, October 9th.

Kinsale Capital Group (NASDAQ:KNSL) opened at $45.29 on Monday. Kinsale Capital Group has a 52 week low of $27.19 and a 52 week high of $47.78. The stock has a market capitalization of $952.45, a PE ratio of 37.43 and a beta of -0.27.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. Kinsale Capital Group’s payout ratio is 19.83%.

In other Kinsale Capital Group news, SVP Ann Marie Marson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $43.00, for a total value of $322,500.00. Following the completion of the transaction, the senior vice president now directly owns 105,334 shares of the company’s stock, valued at $4,529,362. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.20% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of KNSL. Renaissance Technologies LLC acquired a new position in Kinsale Capital Group in the first quarter valued at about $686,000. Russell Investments Group Ltd. lifted its holdings in shares of Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 515 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Kinsale Capital Group by 12.6% in the second quarter. Sei Investments Co. now owns 22,099 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 2,469 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Kinsale Capital Group by 102.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,700 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Kinsale Capital Group in the second quarter valued at about $522,000. 82.20% of the stock is owned by hedge funds and other institutional investors.

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Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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