Kinsale Capital Group (NASDAQ:KNSL) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a strong-buy rating to a buy rating in a research note released on Wednesday morning, BidAskClub reports.

Several other brokerages have also recently weighed in on KNSL. Zacks Investment Research raised shares of Kinsale Capital Group from a hold rating to a strong-buy rating and set a $104.00 price target on the stock in a research report on Tuesday, August 6th. SunTrust Banks upped their target price on shares of Kinsale Capital Group from $85.00 to $100.00 and gave the company a buy rating in a research report on Monday, July 1st. They noted that the move was a valuation call. ValuEngine cut shares of Kinsale Capital Group from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Finally, JMP Securities initiated coverage on shares of Kinsale Capital Group in a research report on Friday, September 6th. They issued a market perform rating on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $96.00.

Shares of KNSL stock traded down $0.92 on Wednesday, hitting $98.36. 155,600 shares of the stock traded hands, compared to its average volume of 91,295. The firm’s 50-day moving average price is $95.03 and its two-hundred day moving average price is $83.11. The stock has a market capitalization of $2.15 billion, a PE ratio of 54.95 and a beta of 0.50. Kinsale Capital Group has a twelve month low of $50.34 and a twelve month high of $103.93.



Kinsale Capital Group (NASDAQ:KNSL) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $72.57 million for the quarter, compared to analysts’ expectations of $69.49 million. Kinsale Capital Group had a net margin of 18.67% and a return on equity of 16.78%. As a group, equities research analysts expect that Kinsale Capital Group will post 2.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be given a $0.08 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. Kinsale Capital Group’s payout ratio is currently 17.88%.

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 3,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.53, for a total transaction of $289,590.00. Following the sale, the director now directly owns 1,170 shares in the company, valued at $112,940.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian D. Haney sold 2,250 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $94.65, for a total transaction of $212,962.50. Following the sale, the chief operating officer now owns 177,249 shares in the company, valued at $16,776,617.85. The disclosure for this sale can be found here. Insiders sold 23,500 shares of company stock worth $2,195,088 in the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of KNSL. Invesco Ltd. increased its stake in Kinsale Capital Group by 1,039.4% during the second quarter. Invesco Ltd. now owns 361,605 shares of the financial services provider’s stock worth $33,080,000 after purchasing an additional 329,869 shares during the period. JPMorgan Chase & Co. increased its stake in Kinsale Capital Group by 8.9% during the first quarter. JPMorgan Chase & Co. now owns 1,459,597 shares of the financial services provider’s stock worth $100,084,000 after purchasing an additional 119,082 shares during the period. Nuveen Asset Management LLC increased its stake in Kinsale Capital Group by 297.5% during the second quarter. Nuveen Asset Management LLC now owns 158,670 shares of the financial services provider’s stock worth $14,515,000 after purchasing an additional 118,755 shares during the period. Victory Capital Management Inc. increased its stake in Kinsale Capital Group by 48.3% during the second quarter. Victory Capital Management Inc. now owns 309,706 shares of the financial services provider’s stock worth $28,332,000 after purchasing an additional 100,900 shares during the period. Finally, BlackRock Inc. increased its stake in Kinsale Capital Group by 5.0% during the second quarter. BlackRock Inc. now owns 1,796,938 shares of the financial services provider’s stock worth $164,384,000 after purchasing an additional 85,757 shares during the period. Institutional investors own 83.35% of the company’s stock.

About Kinsale Capital Group

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

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