JPMorgan Chase & Co. Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by JPMorgan Chase & Co. from $415.00 to $412.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group lifted 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. Truist Financial decreased their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. 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. Morgan Stanley began coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and three have given 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 $471.11.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $428.32 on Friday. The firm has a 50 day moving average of $475.60 and a 200-day moving average of $454.07. Kinsale Capital Group has a 12 month low of $351.30 and a 12 month 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. The stock has a market capitalization of $9.97 billion, a PE ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results 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 firm had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the company earned $3.31 earnings per share. The company’s quarterly revenue was up 33.0% on a year-over-year basis. On average, equities research analysts predict that Kinsale Capital Group will post 15.61 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s payout ratio is 3.42%.

Insider Activity

In other news, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction 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 transaction, the director now owns 447 shares in the company, valued at $223,191.57. The trade was a 90.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new position in Kinsale Capital Group during the third quarter worth $26,000. UMB Bank n.a. lifted its position in Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Signaturefd LLC boosted its stake in Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kinsale Capital Group by 225.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 79 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Kinsale Capital Group in the third quarter worth approximately $55,000. Institutional investors and hedge funds 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.