Morgan Stanley Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL - Free Report) had its target price reduced by Morgan Stanley from $535.00 to $520.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada reduced their target price on shares of 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. decreased their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Wolfe Research raised Kinsale Capital Group from a "peer perform" rating to an "outperform" rating and set a $535.00 price target on the stock in a research report on Monday, October 28th. Truist Financial lowered their price objective on Kinsale Capital Group from $500.00 to $480.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets boosted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a "market perform" rating in a research note on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and an average target price of $468.56.

Kinsale Capital Group Stock Down 1.7 %

Shares of NYSE KNSL traded down $7.84 during midday trading on Friday, reaching $441.50. 309,542 shares of the company's stock traded hands, compared to its average volume of 224,905. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 1.82 and a beta of 1.15. The stock's 50 day simple moving average is $458.10 and its 200-day simple moving average is $465.89. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group has a one year low of $355.12 and a one year high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.39. The business had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. On average, analysts predict that Kinsale Capital Group will post 15.67 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's payout ratio is presently 3.42%.

Insider Activity

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now directly owns 447 shares of the company's stock, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The stock was 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 in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. Company insiders own 5.60% of the company's stock.

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in Kinsale Capital Group by 8.8% in the 3rd quarter. CWM LLC now owns 406 shares of the financial services provider's stock worth $189,000 after purchasing an additional 33 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Kinsale Capital Group by 32.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,580 shares of the financial services provider's stock worth $736,000 after buying an additional 385 shares in the last quarter. Trust Point Inc. grew its position in Kinsale Capital Group by 5.5% during the third quarter. Trust Point Inc. now owns 3,053 shares of the financial services provider's stock valued at $1,421,000 after buying an additional 160 shares during the period. Blue Trust Inc. increased its holdings in Kinsale Capital Group by 309.1% in the third quarter. Blue Trust Inc. now owns 180 shares of the financial services provider's stock valued at $84,000 after buying an additional 136 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider's stock worth $62,375,000 after acquiring an additional 57,460 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

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.