Kinsale Capital Group (NYSE:KNSL) Hits New 1-Year High at $359.02

Posted by on Jun 18th, 2023

Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $359.02 and last traded at $356.17, with a volume of 42436 shares traded. The stock had previously closed at $350.09.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Kinsale Capital Group from $335.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Royal Bank of Canada raised their price target on shares of Kinsale Capital Group from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. BMO Capital Markets raised shares of Kinsale Capital Group from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $270.00 to $389.00 in a report on Friday, June 2nd. Compass Point lowered shares of Kinsale Capital Group from a “buy” rating to a “neutral” rating and raised their price target for the stock from $330.00 to $350.00 in a report on Tuesday, February 21st. Finally, Jefferies Financial Group raised their target price on shares of Kinsale Capital Group from $313.00 to $315.00 and gave the stock a “hold” rating in a research report on Monday, April 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $362.80.

Kinsale Capital Group Stock Performance

The company’s 50-day moving average price is $328.45 and its 200 day moving average price is $308.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $8.23 billion, a PE ratio of 45.01 and a beta of 0.86.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.20. Kinsale Capital Group had a net margin of 20.44% and a return on equity of 28.34%. The company had revenue of $299.03 million during the quarter, compared to analysts’ expectations of $252.84 million. During the same period last year, the company posted $1.63 EPS. Kinsale Capital Group’s revenue was up 38.1% on a year-over-year basis. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 10.37 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.56 dividend on an annualized basis and a yield of 0.16%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 7.09%.

Insider Activity at Kinsale Capital Group

In related news, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $341.63, for a total transaction of $854,075.00. Following the completion of the transaction, the chief operating officer now directly owns 72,331 shares of the company’s stock, valued at approximately $24,710,439.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Kinsale Capital Group news, COO Brian D. Haney sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $341.63, for a total transaction of $854,075.00. Following the completion of the sale, the chief operating officer now directly owns 72,331 shares in the company, valued at approximately $24,710,439.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian D. Haney sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $349.94, for a total transaction of $524,910.00. Following the sale, the chief operating officer now owns 70,831 shares of the company’s stock, valued at $24,786,600.14. The disclosure for this sale can be found here. Insiders sold a total of 10,500 shares of company stock valued at $3,491,170 in the last three months. Company insiders own 6.00% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ieq Capital LLC grew its stake in shares of Kinsale Capital Group by 1.3% in the fourth quarter. Ieq Capital LLC now owns 2,706 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 35 shares during the period. Brown Advisory Inc. grew its stake in shares of Kinsale Capital Group by 2.7% in the first quarter. Brown Advisory Inc. now owns 1,349 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 36 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Kinsale Capital Group by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,329 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 38 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Kinsale Capital Group by 2.9% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,329 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 38 shares during the period. Finally, Csenge Advisory Group grew its stake in shares of Kinsale Capital Group by 2.0% in the first quarter. Csenge Advisory Group now owns 2,063 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 40 shares during the period. 85.97% of the stock is currently owned by institutional investors.

About Kinsale Capital Group

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Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.

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