Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $461.00

Kinsale Capital Group (NYSE:KNSL) had its price objective hoisted by BMO Capital Markets from $445.00 to $461.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research report on Monday, October 28th. Royal Bank of Canada decreased their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group raised their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial dropped their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $456.88.

Kinsale Capital Group Price Performance

KNSL stock opened at $498.69 on Thursday. The company has a market cap of $11.61 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $460.24 and a two-hundred day moving average price of $432.17. Kinsale Capital Group has a 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The firm had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.31 EPS. As a group, research analysts predict that Kinsale Capital Group will post 15.52 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KNSL. Harbor Capital Advisors Inc. raised its stake in shares of Kinsale Capital Group by 249.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares during the last quarter. Swedbank AB acquired a new stake in Kinsale Capital Group during the second quarter valued at approximately $15,430,000. QRG Capital Management Inc. bought a new position in Kinsale Capital Group during the 2nd quarter worth approximately $503,000. Finally, Bridges Investment Management Inc. acquired a new position in shares of Kinsale Capital Group in the 2nd quarter worth approximately $642,000. 85.36% of the stock is currently owned by institutional investors.

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.