Kinsale Capital Group, Inc. (NYSE:KNSL) Short Interest Update

Kinsale Capital Group, Inc. (NYSE:KNSL) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,300,000 shares, a decline of 6.5% from the August 15th total of 1,390,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily volume of 150,300 shares, the short-interest ratio is presently 8.6 days.

Hedge Funds Weigh In On Kinsale Capital Group

A number of large investors have recently made changes to their positions in KNSL. Vaughan Nelson Investment Management L.P. acquired a new stake in Kinsale Capital Group in the 1st quarter valued at about $196,358,000. Norges Bank acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $78,562,000. Maren Capital LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $46,478,000. Jackson Square Partners LLC acquired a new stake in Kinsale Capital Group in the 1st quarter valued at about $48,035,000. Finally, Champlain Investment Partners LLC grew its stake in Kinsale Capital Group by 58.9% in the 1st quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock valued at $127,761,000 after acquiring an additional 90,209 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial boosted their price target on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They issued 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 company a “neutral” rating in a research note on Thursday, July 11th. Finally, Wolfe Research downgraded shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $443.38.

Kinsale Capital Group Stock Up 0.5 %

Shares of Kinsale Capital Group stock traded up $2.30 during trading hours on Wednesday, hitting $457.67. The company had a trading volume of 3,580 shares, compared to its average volume of 175,991. The company’s 50-day moving average is $447.89 and its two-hundred day moving average is $435.76. Kinsale Capital Group has a twelve month low of $325.01 and a twelve month high of $548.47. The company has a market cap of $10.65 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13.

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

Kinsale Capital Group Dividend Announcement

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

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.