Key Points
- Insider sale: Kinsale Capital Group insider Salmaan Allibhai sold 250 shares on May 26 at an average price of $311.17, totaling about $77,792.50. After the sale, he still held 3,645 shares, and the transaction cut his position by 6.42%.
- Stock and earnings backdrop: KNSL shares were down 1.7% and opened at $306.79, well below both their 50-day moving average of $331.70 and 200-day moving average of $367.75. The company recently beat quarterly earnings expectations, reporting $5.11 EPS versus $4.70 expected.
- Analyst sentiment and dividend: Wall Street remains cautious, with a consensus rating of Hold and an average price target of $390.18 after several firms cut their targets or downgraded the stock. Kinsale also declared a quarterly dividend of $0.25 per share, payable June 11.
Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) insider Salmaan Allibhai sold 250 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Kinsale Capital Group Stock Down 1.7%
Shares of NYSE:KNSL opened at $306.79 on Thursday. Kinsale Capital Group, Inc. has a 12-month low of $293.78 and a 12-month high of $512.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 1.01 and a beta of 0.95. The business's 50 day moving average is $331.70 and its 200 day moving average is $367.75.
Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the business posted $3.71 EPS. The business's revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.58 earnings per share for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.40%.
Wall Street Analysts Forecast Growth
KNSL has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company downgraded shares of Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $420.00 to $357.00 in a report on Monday, April 27th. Weiss Ratings downgraded shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. BMO Capital Markets downgraded shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 target price on the stock. in a research note on Wednesday, February 25th. Finally, Morgan Stanley reduced their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $390.18.
Get Our Latest Report on KNSL
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in KNSL. AQR Capital Management LLC grew its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after purchasing an additional 43 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 82 shares in the last quarter. Jump Financial LLC boosted its holdings in Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after acquiring an additional 634 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after acquiring an additional 1,566 shares in the last quarter. Institutional investors own 85.36% of the company's stock.
Kinsale Capital Group Company Profile
(
Get Free Report)
Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.
The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.
Further Reading
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