Kinsale Capital Group (NYSE:KNSL) Shares Gap Down to $453.09

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) gapped down before the market opened on Friday . The stock had previously closed at $453.09, but opened at $392.00. Kinsale Capital Group shares last traded at $378.05, with a volume of 192,918 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KNSL shares. BMO Capital Markets lowered Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Truist Financial upped their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada upped their target price on Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $510.00.

Kinsale Capital Group Stock Down 17.3 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a 50 day simple moving average of $494.22 and a 200-day simple moving average of $416.33. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 28.78 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The firm had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same period in the prior year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.16%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is currently 4.54%.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the business. Carnegie Capital Asset Management LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $8,002,000. Navellier & Associates Inc. bought a new position in Kinsale Capital Group in the third quarter valued at approximately $975,000. Scout Investments Inc. grew its stake in Kinsale Capital Group by 38.0% in the third quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock valued at $38,780,000 after purchasing an additional 26,084 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Kinsale Capital Group by 116.1% in the third quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 6,651 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its stake in Kinsale Capital Group by 83.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 29,730 shares of the financial services provider’s stock valued at $9,957,000 after purchasing an additional 13,530 shares in the last quarter. Institutional investors and hedge funds 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.