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

Kinsale Capital Group, Inc. (NYSE:KNSL) was the recipient of a large decline in short interest during 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. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 150,300 shares, the short-interest ratio is currently 8.6 days.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL traded up $2.30 during midday trading on Wednesday, reaching $457.67. The company’s stock had a trading volume of 3,580 shares, compared to its average volume of 175,991. The stock has a fifty day moving average of $447.89 and a 200 day moving average of $435.76. Kinsale Capital Group has a twelve month low of $325.01 and a twelve month high of $548.47. The firm has a market capitalization of $10.65 billion, a PE ratio of 30.25, a P/E/G ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $410.20 million. During the same period in the prior year, the firm posted $2.88 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, equities analysts expect that Kinsale Capital Group will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently commented on KNSL. JPMorgan Chase & Co. lifted their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada upped their price target 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. Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday. Oppenheimer assumed coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. Finally, Truist Financial upped their price target on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $443.38.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently modified their holdings of KNSL. Benjamin Edwards Inc. boosted its position in Kinsale Capital Group by 9.9% during the second quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 24 shares during the last quarter. Rise Advisors LLC boosted its position in Kinsale Capital Group by 17.5% during the first quarter. Rise Advisors LLC now owns 181 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 27 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Kinsale Capital Group by 9.2% during the second quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 28 shares during the last quarter. Personal CFO Solutions LLC boosted its position in Kinsale Capital Group by 3.7% during the fourth quarter. Personal CFO Solutions LLC now owns 984 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 35 shares during the last quarter. Finally, Hancock Whitney Corp boosted its position in Kinsale Capital Group by 3.1% during the first quarter. Hancock Whitney Corp now owns 1,245 shares of the financial services provider’s stock worth $653,000 after acquiring an additional 38 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.