Truist Financial Raises Kinsale Capital Group (NYSE:KNSL) Price Target to $525.00

Kinsale Capital Group (NYSE:KNSL) had its price target upped by Truist Financial from $480.00 to $525.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada decreased their target price 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. BMO Capital Markets raised their target price 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. 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. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Finally, Morgan Stanley reduced their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Price Performance

KNSL stock opened at $442.05 on Tuesday. Kinsale Capital Group has a 1 year low of $355.12 and a 1 year high of $548.47. The company has a market cap of $10.29 billion, a P/E ratio of 24.85, a PEG ratio of 1.63 and a beta of 1.15. The firm has a 50-day moving average of $455.49 and a 200 day moving average of $465.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating 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 business had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. On average, sell-side analysts forecast that Kinsale Capital Group will post 18.06 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued a $0.17 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.82%.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on 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 sale, the director now 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction 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 trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Kinsale Capital Group in the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $31,000. Larson Financial Group LLC grew its position in shares of Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 74 shares during the period. Allworth Financial LP grew its position in shares of Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $46,000. Institutional investors own 85.36% of the company’s stock.

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.