Kinsale Capital Group (NYSE:KNSL) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research cut shares of Kinsale Capital Group (NYSE:KNSL) from an outperform rating to a peer perform rating in a research report released on Monday, Marketbeat.com reports.

KNSL has been the topic of a number of other reports. TD Cowen assumed coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They issued a hold rating and a $403.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a neutral rating in a research note on Thursday, July 11th. Royal Bank of Canada upped their price target on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a sector perform rating in a research note on Monday, July 29th. Oppenheimer began coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They set a market perform rating on the stock. Finally, Truist Financial upped their price target on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the company a buy rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of Hold and a consensus price target of $443.38.

Kinsale Capital Group Trading Up 0.1 %

Shares of KNSL stock opened at $453.81 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.98 and a beta of 1.08. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a 50-day simple moving average of $450.89 and a two-hundred day simple moving average of $436.01.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. The firm had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 earnings per share. Research analysts anticipate that Kinsale Capital Group will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Principal Securities Inc. purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $44,000. Avantax Advisory Services Inc. lifted its stake in Kinsale Capital Group by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 957 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 41 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Kinsale Capital Group by 23.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 1,922 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 368 shares in the last quarter. Securian Asset Management Inc. lifted its stake in Kinsale Capital Group by 5.5% in the 4th quarter. Securian Asset Management Inc. now owns 1,920 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 100 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Kinsale Capital Group in the 4th quarter worth $126,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.