Kinsale Capital Group (NYSE:KNSL) Shares Gap Down - What's Next?

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $501.97, but opened at $445.00. Kinsale Capital Group shares last traded at $433.79, with a volume of 93,340 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research report on Monday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Truist Financial dropped their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $464.44.

Kinsale Capital Group Stock Performance

The firm has a 50-day moving average price of $460.12 and a 200 day moving average price of $462.69. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $10.10 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.50 earnings per share. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend 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 was Thursday, February 27th. Kinsale Capital Group's dividend payout ratio (DPR) is 3.91%.

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors have recently added to or reduced their stakes in KNSL. Envestnet Asset Management Inc. boosted its position in shares of Kinsale Capital Group by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 173,778 shares of the financial services provider's stock worth $84,580,000 after buying an additional 8,372 shares during the period. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group during the 1st quarter valued at $42,000. OneDigital Investment Advisors LLC boosted its holdings in Kinsale Capital Group by 42.0% in the first quarter. OneDigital Investment Advisors LLC now owns 821 shares of the financial services provider's stock valued at $400,000 after purchasing an additional 243 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Kinsale Capital Group during the 1st quarter valued at approximately $270,000. Finally, First Horizon Advisors Inc. grew its position in shares of Kinsale Capital Group by 28.7% during the first quarter. First Horizon Advisors Inc. now owns 260 shares of the financial services provider's stock worth $127,000 after buying an additional 58 shares in the last quarter. Hedge funds and other 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.