Kinsale Capital Group (KNSL) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a sell rating to a hold rating in a report released on Tuesday.

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. “

A number of other equities analysts also recently issued reports on KNSL. SunTrust Banks set a $46.00 price objective on Kinsale Capital Group and gave the stock a buy rating in a research report on Monday, August 7th. William Blair downgraded Kinsale Capital Group from an outperform rating to a market perform rating in a research report on Monday, October 9th.

Shares of Kinsale Capital Group (KNSL) traded down $0.86 on Tuesday, hitting $42.48. The stock had a trading volume of 124,600 shares, compared to its average volume of 102,871. Kinsale Capital Group has a 52 week low of $27.19 and a 52 week high of $47.78. The company has a market capitalization of $911.44, a P/E ratio of 35.82 and a beta of -0.27.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.56%. Kinsale Capital Group’s payout ratio is currently 19.83%.

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 124,812 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $36.58, for a total value of $4,565,622.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ann Marie Marson sold 7,500 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $43.00, for a total value of $322,500.00. Following the completion of the sale, the senior vice president now owns 105,334 shares of the company’s stock, valued at $4,529,362. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,812 shares of company stock valued at $4,995,623. 11.20% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of KNSL. New York State Common Retirement Fund increased its holdings in shares of Kinsale Capital Group by 7,908.8% during the second quarter. New York State Common Retirement Fund now owns 56,702 shares of the financial services provider’s stock valued at $2,116,000 after acquiring an additional 55,994 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kinsale Capital Group by 28.1% during the second quarter. JPMorgan Chase & Co. now owns 1,405,850 shares of the financial services provider’s stock valued at $52,453,000 after acquiring an additional 308,449 shares in the last quarter. Swiss National Bank increased its holdings in shares of Kinsale Capital Group by 33.0% during the second quarter. Swiss National Bank now owns 32,262 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 8,000 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Kinsale Capital Group by 60.3% during the second quarter. Alliancebernstein L.P. now owns 10,900 shares of the financial services provider’s stock valued at $407,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 53.3% during the second quarter. Hood River Capital Management LLC now owns 458,168 shares of the financial services provider’s stock valued at $17,094,000 after acquiring an additional 159,250 shares in the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.

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Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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