Kinsale Capital Group (NYSE:KNSL) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Kinsale Capital Group (NYSE:KNSL) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $593.00 price objective on the financial services provider’s stock.

Several other research firms have also weighed in on KNSL. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a report on Monday, October 28th. Jefferies Financial Group raised their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. 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 for the company in a research report 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 stock a “market perform” rating in a research report on Thursday, November 21st. Finally, Truist Financial cut their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $472.00.

Kinsale Capital Group Stock Up 0.2 %

Kinsale Capital Group stock opened at $498.78 on Thursday. The company has a market capitalization of $11.62 billion, a P/E ratio of 28.44, a PEG ratio of 2.15 and a beta of 1.13. Kinsale Capital Group has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The stock has a 50-day simple moving average of $469.74 and a 200-day simple moving average of $439.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

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

Kinsale Capital Group Dividend Announcement

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

Insiders Place Their Bets

In related news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction 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 sale, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares in the company, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in Kinsale Capital Group by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider’s stock valued at $45,869,000 after purchasing an additional 12,125 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kinsale Capital Group in the third quarter valued at approximately $398,000. Sanctuary Advisors LLC raised its holdings in shares of Kinsale Capital Group by 34.8% during the third quarter. Sanctuary Advisors LLC now owns 1,731 shares of the financial services provider’s stock valued at $863,000 after buying an additional 447 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Kinsale Capital Group by 13.5% during the third quarter. Arete Wealth Advisors LLC now owns 1,093 shares of the financial services provider’s stock worth $507,000 after buying an additional 130 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in Kinsale Capital Group by 5.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,444 shares of the financial services provider’s stock worth $672,000 after buying an additional 74 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.