Kinsale Capital Group (NYSE:KNSL) Trading Down 3.1% on Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL)’s stock price dropped 3.1% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. Approximately 16,298 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 82,935 shares. The stock had previously closed at $454.02.

A number of other analysts have also recently weighed in on KNSL. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Truist Financial dropped their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a report 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 report on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $471.11.

Insider Activity

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction 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. The trade was a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % 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. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in Kinsale Capital Group in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its position in shares of Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after buying an additional 42 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 79 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in Kinsale Capital Group in the 3rd quarter worth approximately $55,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.16 and a beta of 1.13. The company has a fifty day simple moving average of $475.60 and a two-hundred day simple moving average of $453.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same period in the prior year, the firm posted $3.31 earnings per share. The business’s quarterly revenue was up 33.0% compared to the same quarter last year. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.15 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is presently 3.42%.

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.