Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $480.00 by Analysts at Truist Financial

Kinsale Capital Group (NYSE:KNSL - Free Report) had its price objective lowered by Truist Financial from $500.00 to $480.00 in a research note released on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider's stock.

KNSL has been the topic of several other reports. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada dropped their price target on Kinsale Capital Group from $480.00 to $475.00 and set a "sector perform" rating for the company in a research note on Monday, October 28th. BMO Capital Markets boosted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a "market perform" rating in a research report on Thursday, November 21st. Jefferies Financial Group increased their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley assumed coverage on Kinsale Capital Group in a report on Thursday, December 5th. They set an "overweight" rating and a $593.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $468.89.

Kinsale Capital Group Price Performance

NYSE KNSL traded up $12.59 on Tuesday, hitting $429.68. 147,111 shares of the company's stock were exchanged, compared to its average volume of 259,057. The stock has a 50-day moving average of $474.44 and a 200-day moving average of $455.85. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 2.16 and a beta of 1.16. Kinsale Capital Group has a 52 week low of $355.12 and a 52 week high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same period in the prior year, the company earned $3.31 EPS. Kinsale Capital Group's revenue for the quarter was up 33.0% on a year-over-year basis. Analysts expect that Kinsale Capital Group will post 15.61 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.15 per share. 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%.

Insider Buying and Selling

In other news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock valued at $3,618,954 over the last quarter. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors have recently made changes to their positions in KNSL. Thrivent Financial for Lutherans raised its stake in Kinsale Capital Group by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider's stock worth $281,065,000 after buying an additional 6,331 shares during the period. State Street Corp increased its holdings in shares of Kinsale Capital Group by 1.3% during the third quarter. State Street Corp now owns 689,386 shares of the financial services provider's stock valued at $320,957,000 after acquiring an additional 8,954 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider's stock worth $246,810,000 after purchasing an additional 29,686 shares during the period. Geneva Capital Management LLC lifted its holdings in shares of Kinsale Capital Group by 1.3% in 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. Finally, Copeland Capital Management LLC grew its position in Kinsale Capital Group by 0.3% in the 3rd quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider's stock valued at $107,687,000 after purchasing an additional 685 shares during the period. Institutional investors and hedge funds 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.