Kinsale Capital Group (NYSE:KNSL) Hits New 52-Week High at $425.25

Kinsale Capital Group, Inc. (NYSE:KNSL) hit a new 52-week high on Tuesday . The stock traded as high as $425.25 and last traded at $423.09, with a volume of 80878 shares trading hands. The stock had previously closed at $415.56.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KNSL. StockNews.com began coverage on shares of Kinsale Capital Group in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $415.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, September 13th. Truist Financial raised their price target on shares of Kinsale Capital Group from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Jefferies Financial Group raised their price target on shares of Kinsale Capital Group from $370.00 to $396.00 and gave the company a “hold” rating in a research report on Thursday, September 7th. Finally, Royal Bank of Canada raised their price target on shares of Kinsale Capital Group from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $403.50.

Kinsale Capital Group Stock Performance

The company’s 50-day simple moving average is $384.64 and its 200 day simple moving average is $347.90. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.75 billion, a P/E ratio of 42.53 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 27th. The financial services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.48 by $0.40. Kinsale Capital Group had a net margin of 22.60% and a return on equity of 29.11%. The firm had revenue of $295.77 million for the quarter, compared to analysts’ expectations of $282.01 million. During the same quarter last year, the firm earned $1.92 EPS. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 11.56 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, August 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.13%. Kinsale Capital Group’s payout ratio is currently 5.69%.

Insider Transactions at Kinsale Capital Group

In related news, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $375.00, for a total value of $937,500.00. Following the completion of the transaction, the chief operating officer now directly owns 68,331 shares in the company, valued at approximately $25,624,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Brian D. Haney sold 1,500 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $414.60, for a total value of $621,900.00. Following the completion of the transaction, the chief operating officer now directly owns 66,831 shares in the company, valued at approximately $27,708,132.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $375.00, for a total transaction of $937,500.00. Following the completion of the transaction, the chief operating officer now owns 68,331 shares of the company’s stock, valued at $25,624,125. The disclosure for this sale can be found here. Insiders sold a total of 8,195 shares of company stock worth $3,146,439 in the last quarter. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its holdings in shares of Kinsale Capital Group by 148.8% during the 4th quarter. First Horizon Advisors Inc. now owns 107 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 64 shares during the last quarter. Quarry LP bought a new stake in shares of Kinsale Capital Group during the 2nd quarter worth $28,000. Penserra Capital Management LLC bought a new stake in shares of Kinsale Capital Group during the 2nd quarter worth $29,000. Lazard Asset Management LLC bought a new stake in shares of Kinsale Capital Group during the 1st quarter worth $31,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $33,000. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.