Kinsale Capital Group (NYSE:KNSL) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Kinsale Capital Group (NYSE:KNSL) in a report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $500.00 price target on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on KNSL. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Wolfe Research raised 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. 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. Finally, Truist Financial boosted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $442.05 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.63 and a beta of 1.15. The firm’s 50 day simple moving average is $455.49 and its 200-day simple moving average is $465.68. Kinsale Capital Group has a 12 month low of $355.12 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Analysts expect that Kinsale Capital Group will post 18.06 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.82%.

Insider Activity

In other news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $89,200,000. Alliancebernstein L.P. boosted its holdings in Kinsale Capital Group by 486.3% in the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock valued at $99,559,000 after purchasing an additional 177,540 shares during the last quarter. Premier Fund Managers Ltd grew its stake in shares of Kinsale Capital Group by 20,286.0% in the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock valued at $48,813,000 after buying an additional 104,270 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock valued at $32,885,000 after buying an additional 64,900 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Kinsale Capital Group by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after buying an additional 58,971 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

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.