Kinsale Capital Group (NYSE:KNSL) Shares Down 3.1% After Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL) shares fell 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. 16,298 shares were traded during mid-day trading, a decline of 80% from the average session volume of 82,935 shares. The stock had previously closed at $454.02.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group increased their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research note on Monday, October 28th. Morgan Stanley assumed coverage on Kinsale Capital Group in a research note on Thursday, December 5th. They set an “overweight” rating and a $593.00 price target on the stock. Finally, BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and an average price target of $471.11.

Insiders Place Their Bets

In other news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the transaction, the director now owns 447 shares of the company’s stock, valued at $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock valued at $3,618,954 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in Kinsale Capital Group by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock valued at $281,065,000 after buying an additional 6,331 shares during the period. State Street Corp grew its holdings in Kinsale Capital Group by 1.3% during the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after acquiring an additional 8,954 shares during the period. Geode Capital Management LLC lifted its stake in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after buying an additional 5,207 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in Kinsale Capital Group by 0.3% in the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock worth $107,687,000 after buying an additional 685 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

The company has a fifty day simple moving average of $475.73 and a 200-day simple moving average of $453.39. The company has a market cap of $10.07 billion, a P/E ratio of 24.66, a PEG ratio of 2.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09.

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

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

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.