JPMorgan Chase & Co. Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $412.00

Kinsale Capital Group (NYSE:KNSL) had its target price decreased by JPMorgan Chase & Co. from $415.00 to $412.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on KNSL. BMO Capital Markets lifted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Royal Bank of Canada cut their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a report on Monday, October 28th. Truist Financial cut their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Morgan Stanley started coverage on Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $471.11.

Kinsale Capital Group Stock Down 5.7 %

Shares of NYSE KNSL opened at $428.32 on Friday. Kinsale Capital Group has a 52-week low of $351.30 and a 52-week high of $548.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $9.97 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.16 and a beta of 1.16. The firm has a 50 day moving average price of $475.60 and a 200 day moving average price of $454.07.

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

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given 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%.

Insider Buying and Selling at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 over the last quarter. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. Commonwealth Equity Services LLC grew its stake in shares of Kinsale Capital Group by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 5,382 shares of the financial services provider’s stock valued at $2,074,000 after acquiring an additional 249 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Kinsale Capital Group by 7.0% during the second quarter. CIBC Asset Management Inc now owns 659 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 43 shares during the period. Rhumbline Advisers raised its position in shares of Kinsale Capital Group by 0.9% in the second quarter. Rhumbline Advisers now owns 62,894 shares of the financial services provider’s stock valued at $24,232,000 after buying an additional 579 shares in the last quarter. SouthState Corp acquired a new stake in shares of Kinsale Capital Group in the second quarter valued at approximately $65,000. Finally, National Bank of Canada FI boosted its stake in shares of Kinsale Capital Group by 204,450.0% in the second quarter. National Bank of Canada FI now owns 8,182 shares of the financial services provider’s stock valued at $3,203,000 after buying an additional 8,178 shares during the period. 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.