Truist Financial Boosts Kinsale Capital Group (NYSE:KNSL) Price Target to $530.00

Kinsale Capital Group (NYSE:KNSL) had its price target increased by Truist Financial from $485.00 to $530.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other brokerages have also issued reports on KNSL. Royal Bank of Canada boosted their price objective on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a sector perform rating in a report on Monday, July 29th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They set a market perform rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a neutral rating in a research note on Thursday, July 11th. Finally, Wolfe Research lowered shares of Kinsale Capital Group from an outperform rating to a peer perform rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of Hold and a consensus price target of $438.71.

Kinsale Capital Group Trading Up 2.6 %

Shares of KNSL stock opened at $461.38 on Friday. The company’s 50-day moving average price is $458.52 and its 200-day moving average price is $432.39. 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 market cap of $10.74 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.02 and a beta of 1.08. Kinsale Capital Group has a twelve month low of $325.01 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.23. The firm had revenue of $384.55 million for the quarter, compared to analyst estimates of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. Kinsale Capital Group’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. As a group, equities analysts predict that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Hedge Funds Weigh In On Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Kinsale Capital Group in the first quarter valued at approximately $25,000. Trust Co. of Vermont boosted its holdings in Kinsale Capital Group by 113.6% in the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $33,000. Quarry LP acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $40,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Kinsale Capital Group by 713.3% in the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 107 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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.