Kinsale Capital Group (NYSE:KNSL) Stock Price Down 3.1% on Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report)'s share price fell 3.1% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. 16,298 shares were traded during trading, a decline of 80% from the average session volume of 82,935 shares. The stock had previously closed at $454.02.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada dropped their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a "sector perform" rating on the stock in a research report on Monday, October 28th. Jefferies Financial Group increased their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Morgan Stanley started coverage on Kinsale Capital Group in a research note on Thursday, December 5th. They issued an "overweight" rating and a $593.00 price target for the company. BMO Capital Markets lifted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a "market perform" rating in a report on Thursday, November 21st. Finally, Truist Financial lowered their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $471.11.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was 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 in the company, valued at $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 447 shares of the company's stock, valued at $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,235 shares of company stock worth $3,618,954 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider's stock valued at $246,810,000 after acquiring an additional 29,686 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider's stock valued at $488,000 after purchasing an additional 1,035 shares during the period. Geneva Capital Management LLC boosted its position in shares of Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider's stock worth $189,874,000 after purchasing an additional 5,207 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $642,000. Finally, Swedbank AB lifted its holdings in shares of Kinsale Capital Group by 5.0% in the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock worth $19,582,000 after purchasing an additional 2,010 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 5.7 %

The company has a market capitalization of $9.97 billion, a P/E ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.13. The business has a fifty day moving average of $475.60 and a 200-day moving average of $453.66. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million during the quarter, compared to analysts' expectations of $359.43 million. During the same period last year, the company earned $3.31 earnings per share. The business's revenue was up 33.0% on a year-over-year basis. Analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.42%.

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.