Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $440.00

Kinsale Capital Group (NYSE:KNSL) had its price target cut by investment analysts at Truist Financial from $600.00 to $440.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 21.13% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $438.43.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $363.25 on Monday. Kinsale Capital Group has a fifty-two week low of $297.33 and a fifty-two week high of $548.47. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 24.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The business has a 50-day simple moving average of $486.01 and a two-hundred day simple moving average of $414.46.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter in the prior year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, analysts expect that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Carnegie Capital Asset Management LLC bought a new stake in Kinsale Capital Group in the fourth quarter worth $8,002,000. Navellier & Associates Inc. bought a new stake in Kinsale Capital Group in the third quarter worth $975,000. Scout Investments Inc. lifted its position in Kinsale Capital Group by 38.0% in the third quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock worth $38,780,000 after buying an additional 26,084 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in Kinsale Capital Group by 116.1% in the third quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock worth $5,127,000 after buying an additional 6,651 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in Kinsale Capital Group by 83.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 29,730 shares of the financial services provider’s stock worth $9,957,000 after buying an additional 13,530 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.