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 note issued to investors on Monday, Marketbeat reports.

A number of other research analysts have also recently issued reports on KNSL. Truist Financial lifted 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 report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a neutral rating in a research report on Thursday, July 11th. Oppenheimer began coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a market perform rating for the company. Royal Bank of Canada lifted 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 report on Monday, July 29th. Finally, TD Cowen began coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They set a hold rating and a $403.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of Hold and an average price target of $443.38.

Kinsale Capital Group Price Performance

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. Kinsale Capital Group has a 52 week low of $325.01 and a 52 week high of $548.47. The firm’s fifty day moving average is $450.89 and its 200 day moving average is $436.01. The firm has a market cap of $10.56 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.98 and a beta of 1.08.

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

Kinsale Capital Group Announces Dividend

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

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Kinsale Capital Group in the fourth quarter worth approximately $44,000. Avantax Advisory Services Inc. grew its stake in shares of Kinsale Capital Group by 4.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 957 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 41 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Kinsale Capital Group by 23.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,922 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 368 shares during the period. Securian Asset Management Inc. grew its position in Kinsale Capital Group by 5.5% during the fourth quarter. Securian Asset Management Inc. now owns 1,920 shares of the financial services provider’s stock valued at $643,000 after buying an additional 100 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $126,000. 85.36% of the stock is currently owned by institutional investors.

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.