Kinsale Capital Group (KNSL) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Kinsale Capital Group from a hold rating to a sell rating in a report on Tuesday, November 6th. William Blair upgraded Kinsale Capital Group from a market perform rating to an outperform rating in a report on Thursday, December 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $61.33.

Shares of KNSL opened at $54.58 on Tuesday. Kinsale Capital Group has a 1 year low of $41.85 and a 1 year high of $64.97. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 32.72 and a beta of 0.62.

Kinsale Capital Group (NASDAQ:KNSL) last released its quarterly earnings data on Friday, November 2nd. The financial services provider reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Kinsale Capital Group had a return on equity of 14.84% and a net margin of 16.33%. The business had revenue of $60.14 million for the quarter, compared to analysts’ expectations of $57.62 million. On average, sell-side analysts expect that Kinsale Capital Group will post 1.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Thursday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 22.40%.

In other news, Director Frederick L. Jr. Russell sold 5,000 shares of Kinsale Capital Group stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $60.35, for a total transaction of $301,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederick L. Jr. Russell sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $60.13, for a total value of $60,130.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock worth $1,074,190 in the last quarter. 8.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNSL. State Board of Administration of Florida Retirement System bought a new stake in Kinsale Capital Group in the 3rd quarter valued at approximately $201,000. GSA Capital Partners LLP bought a new stake in Kinsale Capital Group in the 3rd quarter valued at approximately $281,000. Lowe Brockenbrough & Co. Inc. bought a new stake in Kinsale Capital Group in the 3rd quarter valued at approximately $332,000. Metropolitan Life Insurance Co. NY lifted its stake in Kinsale Capital Group by 29.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,477 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Kinsale Capital Group by 14.9% in the 2nd quarter. Voya Investment Management LLC now owns 7,075 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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 casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.

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