Kinsale Capital Group (NASDAQ:KNSL) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $171.00 price objective on the financial services provider’s stock.

According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “

KNSL has been the subject of several other reports. William Blair raised Kinsale Capital Group from a market perform rating to an outperform rating in a research report on Wednesday, June 10th. Royal Bank of Canada reissued a buy rating and issued a $125.00 price objective (down from $134.00) on shares of Kinsale Capital Group in a research report on Wednesday, April 8th. BidaskClub raised Kinsale Capital Group from a buy rating to a strong-buy rating in a research report on Friday, May 8th. Finally, SunTrust Banks lifted their price objective on Kinsale Capital Group from $110.00 to $140.00 and gave the stock a buy rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $137.00.

Shares of NASDAQ:KNSL opened at $149.82 on Tuesday. The firm has a market cap of $3.32 billion, a P/E ratio of 58.91 and a beta of 0.60. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.06. Kinsale Capital Group has a 12-month low of $80.93 and a 12-month high of $160.76. The business has a fifty day simple moving average of $147.15 and a 200 day simple moving average of $119.06.

Kinsale Capital Group (NASDAQ:KNSL) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.12. The business had revenue of $108.00 million during the quarter, compared to analyst estimates of $93.35 million. Kinsale Capital Group had a return on equity of 15.05% and a net margin of 15.33%. Kinsale Capital Group’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, equities research analysts expect that Kinsale Capital Group will post 2.93 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.24%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 14.94%.

In other Kinsale Capital Group news, EVP Ann Marie Marson sold 713 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $150.00, for a total transaction of $106,950.00. Following the sale, the executive vice president now owns 78,052 shares of the company’s stock, valued at approximately $11,707,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian D. Haney sold 1,049 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $154.11, for a total transaction of $161,661.39. Following the sale, the chief operating officer now directly owns 168,434 shares in the company, valued at approximately $25,957,363.74. The disclosure for this sale can be found here. Insiders have sold a total of 40,940 shares of company stock valued at $6,150,668 in the last quarter. Company insiders own 7.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Kinsale Capital Group by 0.9% during the 1st quarter. Legal & General Group Plc now owns 60,219 shares of the financial services provider’s stock valued at $6,295,000 after acquiring an additional 546 shares during the period. Thrivent Financial for Lutherans raised its holdings in Kinsale Capital Group by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 17,270 shares of the financial services provider’s stock valued at $1,805,000 after acquiring an additional 862 shares during the period. Nuveen Asset Management LLC raised its holdings in Kinsale Capital Group by 5.1% during the 1st quarter. Nuveen Asset Management LLC now owns 128,134 shares of the financial services provider’s stock valued at $13,394,000 after acquiring an additional 6,241 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Kinsale Capital Group by 194.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 15,138 shares of the financial services provider’s stock valued at $1,582,000 after acquiring an additional 9,996 shares during the period. Finally, Capital World Investors bought a new stake in Kinsale Capital Group during the 1st quarter valued at $9,096,000. 86.73% of the stock is currently owned by institutional investors and hedge funds.

About Kinsale Capital Group

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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