Kinsale Capital Group Inc (NASDAQ:KNSL) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 699,000 shares, a decrease of 9.4% from the August 31st total of 771,900 shares. Based on an average trading volume of 129,300 shares, the short-interest ratio is currently 5.4 days. Currently, 3.3% of the shares of the company are sold short.
A number of research analysts have issued reports on KNSL shares. SunTrust Banks boosted their price target on Kinsale Capital Group from $140.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. William Blair raised Kinsale Capital Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Compass Point started coverage on Kinsale Capital Group in a report on Thursday, September 17th. They issued a “neutral” rating and a $202.00 price target for the company. BidaskClub downgraded Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Zacks Investment Research downgraded Kinsale Capital Group from a “buy” rating to a “hold” rating and set a $196.00 price target for the company. in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $175.75.
Shares of NASDAQ:KNSL traded up $6.25 during midday trading on Friday, reaching $195.90. 173,604 shares of the company’s stock traded hands, compared to its average volume of 166,426. Kinsale Capital Group has a 1 year low of $80.93 and a 1 year high of $212.22. The company has a market cap of $4.37 billion, a P/E ratio of 67.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.15 and a current ratio of 0.15. The company has a fifty day simple moving average of $192.84 and a two-hundred day simple moving average of $153.32.
Kinsale Capital Group (NASDAQ:KNSL) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.14. Kinsale Capital Group had a return on equity of 15.32% and a net margin of 17.92%. The firm had revenue of $117.71 million during the quarter, compared to the consensus estimate of $102.31 million. As a group, research analysts forecast that Kinsale Capital Group will post 3.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, August 31st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 14.94%.
In related news, CEO Michael P. Kehoe sold 2,500 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $200.44, for a total transaction of $501,100.00. Following the completion of the transaction, the chief executive officer now directly owns 343,699 shares in the company, valued at $68,891,027.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian D. Haney sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $200.35, for a total value of $801,400.00. Following the transaction, the chief operating officer now owns 172,078 shares of the company’s stock, valued at $34,475,827.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,500 shares of company stock worth $2,295,900. 7.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new position in Kinsale Capital Group in the 2nd quarter valued at $42,000. Weaver Consulting Group acquired a new position in Kinsale Capital Group in the 2nd quarter valued at $47,000. Macquarie Group Ltd. raised its stake in Kinsale Capital Group by 121.3% in the 2nd quarter. Macquarie Group Ltd. now owns 770 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 422 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Kinsale Capital Group by 23.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 905 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 171 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its stake in Kinsale Capital Group by 159.7% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 948 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 583 shares during the last quarter. 84.60% of the stock is owned by hedge funds and other institutional investors.
Kinsale Capital Group Company Profile
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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