Kinsale Capital Group (NYSE:KNSL) Given New $461.00 Price Target at BMO Capital Markets

Kinsale Capital Group (NYSE:KNSL) had its price target raised by BMO Capital Markets from $445.00 to $461.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on KNSL. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. Royal Bank of Canada decreased their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group upped their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial lowered their price objective on 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group has an average rating of “Hold” and an average target price of $456.88.

Kinsale Capital Group Stock Up 1.6 %

Shares of KNSL traded up $7.84 during trading hours on Thursday, reaching $497.76. The company’s stock had a trading volume of 8,235 shares, compared to its average volume of 172,416. The company has a 50 day moving average of $459.56 and a two-hundred day moving average of $431.44. Kinsale Capital Group has a 1-year low of $325.01 and a 1-year high of $548.47. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.02 and a beta of 1.09. 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 (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating 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 company had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter last year, the company posted $3.31 earnings per share. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, research analysts predict that Kinsale Capital Group will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. Kinsale Capital Group’s payout ratio is 3.42%.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently added to or reduced their stakes in the business. Artemis Investment Management LLP purchased a new position in shares of Kinsale Capital Group in the 2nd quarter worth about $25,476,000. Westfield Capital Management Co. LP raised its position in shares of Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after acquiring an additional 58,971 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after buying an additional 57,460 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Kinsale Capital Group by 14.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock valued at $164,291,000 after purchasing an additional 52,218 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Kinsale Capital Group by 76,986.9% during the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock valued at $21,892,000 after purchasing an additional 46,962 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.