Kinsale Capital Group (NYSE:KNSL) Trading Down 6.1% - Here's Why

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) shares were down 6.1% during trading on Monday . The stock traded as low as $457.14 and last traded at $457.14. Approximately 29,675 shares were traded during trading, a decline of 83% from the average daily volume of 176,214 shares. The stock had previously closed at $486.93.

Analyst Ratings Changes

Several research analysts have recently commented on KNSL shares. JPMorgan Chase & Co. raised their price target on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th. Oppenheimer initiated coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a "market perform" rating for the company. Royal Bank of Canada lifted their target price on Kinsale Capital Group from $425.00 to $455.00 and gave the company a "sector perform" rating in a report on Monday, July 29th. Wolfe Research lowered Kinsale Capital Group from an "outperform" rating to a "peer perform" rating in a report on Monday, September 16th. Finally, Truist Financial lifted their target price on Kinsale Capital Group from $485.00 to $530.00 and gave the company a "buy" rating in a report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $441.83.

Kinsale Capital Group Price Performance

The company has a market capitalization of $10.53 billion, a PE ratio of 30.05, a P/E/G ratio of 2.02 and a beta of 1.08. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $467.33 and a 200-day simple moving average of $430.52.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $0.23. The company had revenue of $384.55 million during the quarter, compared to the consensus estimate of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. Kinsale Capital Group's revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.88 EPS. Equities analysts anticipate that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is 3.99%.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently bought and sold shares of the business. Cim LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $1,934,000. Janney Montgomery Scott LLC increased its position in shares of Kinsale Capital Group by 113.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider's stock worth $2,148,000 after purchasing an additional 2,172 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Kinsale Capital Group by 129.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider's stock worth $14,814,000 after purchasing an additional 24,992 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Kinsale Capital Group by 249.2% during the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider's stock worth $2,061,000 after purchasing an additional 3,818 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Kinsale Capital Group during the first quarter worth about $196,358,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.