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

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL) gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KNSL shares. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Royal Bank of Canada boosted their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Truist Financial upped their price objective on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $510.00.

Kinsale Capital Group Stock Performance

The stock’s 50 day moving average price is $491.62 and its 200 day moving average price is $415.75. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 24.89 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 32.92%. The firm had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $366.45 million. During the same period in the previous year, the company posted $2.44 earnings per share. Kinsale Capital Group’s revenue was up 41.7% compared to the same quarter last year. On average, analysts expect that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Insider Activity at Kinsale Capital Group

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Anchor Investment Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $25,000. Emerald Advisers LLC acquired a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $33,000. Beacon Capital Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $33,000. Brown Brothers Harriman & Co. acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $33,000. Finally, Quarry LP bought a new stake in Kinsale Capital Group in the 4th quarter valued at about $40,000. 85.36% of the stock is owned by institutional investors and hedge funds.

About Kinsale Capital Group

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.