BMO Capital Markets Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $453.00

Kinsale Capital Group (NYSE:KNSL) had its price target decreased by BMO Capital Markets from $544.00 to $453.00 in a report released on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on KNSL. Truist Financial reduced their price target on Kinsale Capital Group from $600.00 to $440.00 and set a buy rating on the stock in a research note on Monday. Compass Point lowered their price target on Kinsale Capital Group from $490.00 to $390.00 and set a neutral rating on the stock in a report on Monday. Royal Bank of Canada reissued a sector perform rating and issued a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the company a neutral rating in a research report on Monday, February 26th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of Hold and a consensus target price of $438.43.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock traded up $9.29 during midday trading on Tuesday, hitting $382.40. 208,497 shares of the company’s stock were exchanged, compared to its average volume of 204,208. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group has a 52-week low of $297.33 and a 52-week high of $548.47. The company has a market cap of $8.87 billion, a P/E ratio of 25.41 and a beta of 0.98. The stock has a 50-day moving average price of $478.52 and a two-hundred day moving average price of $413.48.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The company had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. During the same quarter last year, the firm earned $2.44 EPS. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. On average, equities research analysts forecast that Kinsale Capital Group will post 15.03 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Transactions at Kinsale Capital Group

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,778 shares of company stock worth $4,532,422. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $25,000. Emerald Advisers LLC purchased a new position in shares of Kinsale Capital Group during the 3rd quarter valued at approximately $33,000. Beacon Capital Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $33,000. Brown Brothers Harriman & Co. purchased a new stake in Kinsale Capital Group during the fourth quarter worth $33,000. Finally, Quarry LP acquired a new stake in Kinsale Capital Group during the fourth quarter valued at $40,000. 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.