Kinsale Capital Group, Inc. (NYSE:KNSL) Short Interest Down 7.1% in September

Kinsale Capital Group, Inc. (NYSE:KNSL) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,170,000 shares, a decline of 7.1% from the September 15th total of 1,260,000 shares. Currently, 5.3% of the shares of the company are short sold. Based on an average trading volume of 160,200 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. Headlands Technologies LLC purchased a new position in shares of Kinsale Capital Group during the first quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in Kinsale Capital Group in the 3rd quarter valued at $26,000. UMB Bank n.a. lifted its stake in shares of Kinsale Capital Group by 408.3% during the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 79 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded up $5.63 during trading on Wednesday, hitting $471.40. 123,300 shares of the stock were exchanged, compared to its average volume of 175,779. The company has a market cap of $10.97 billion, a PE ratio of 30.95, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $469.40 and a two-hundred day moving average price of $427.52. Kinsale Capital Group has a 12-month low of $325.01 and a 12-month high of $548.47.

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

Kinsale Capital Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday, September 16th. Oppenheimer began coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Jefferies Financial Group increased their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $446.00.

About Kinsale Capital Group

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.