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

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

Several other brokerages also recently weighed in on KNSL. Wolfe Research upgraded Kinsale Capital Group from a "peer perform" rating to an "outperform" rating and set a $535.00 price target for the company in a report on Monday, October 28th. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Royal Bank of Canada cut their price target on Kinsale Capital Group from $480.00 to $475.00 and set a "sector perform" rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $468.56.

Kinsale Capital Group Price Performance

KNSL stock traded down $12.70 on Tuesday, reaching $428.74. The company had a trading volume of 212,431 shares, compared to its average volume of 224,300. Kinsale Capital Group has a 1 year low of $355.12 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The company's fifty day moving average is $454.19 and its 200 day moving average is $465.51. The company has a market cap of $9.99 billion, a P/E ratio of 24.10, a PEG ratio of 1.66 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.39. The firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, research analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.16%. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group's dividend payout ratio is 3.37%.

Insider Buying and Selling

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 transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares of the company's stock, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company's stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its position in Kinsale Capital Group by 11.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider's stock valued at $93,000 after buying an additional 21 shares during the last quarter. Ballentine Partners LLC boosted its position in Kinsale Capital Group by 4.6% in the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider's stock valued at $267,000 after buying an additional 25 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Kinsale Capital Group by 1.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after buying an additional 25 shares during the last quarter. Caprock Group LLC boosted its position in Kinsale Capital Group by 1.7% in the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider's stock valued at $769,000 after buying an additional 28 shares during the last quarter. Finally, Fielder Capital Group LLC boosted its position in Kinsale Capital Group by 5.5% in the 4th quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider's stock valued at $277,000 after buying an additional 31 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other 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.