Truist Financial Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by equities research analysts at Truist Financial from $500.00 to $480.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 10.45% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Morgan Stanley began coverage on Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price target on the stock. BMO Capital Markets increased their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group upped their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $468.89.

Kinsale Capital Group Trading Up 1.1 %

NYSE KNSL opened at $434.58 on Tuesday. The stock has a 50-day moving average of $474.12 and a 200-day moving average of $456.01. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group has a 1-year low of $355.12 and a 1-year high of $548.47. The firm has a market cap of $10.12 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s revenue was up 33.0% on a year-over-year basis. As a group, sell-side analysts forecast that Kinsale Capital Group will post 15.61 EPS for the current year.

Insider Activity

In other news, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 over the last 90 days. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kinsale Capital Group

Several large investors have recently added to or reduced their stakes in KNSL. Benjamin Edwards Inc. boosted its stake in shares of Kinsale Capital Group by 9.9% during the 2nd 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. Leibman Financial Services Inc. lifted its position in Kinsale Capital Group by 0.5% during the third quarter. Leibman Financial Services Inc. now owns 4,562 shares of the financial services provider’s stock valued at $2,124,000 after purchasing an additional 24 shares in the last quarter. CWM LLC grew its holdings in Kinsale Capital Group by 8.8% during the third quarter. CWM LLC now owns 406 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 33 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Kinsale Capital Group by 5.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider’s stock worth $355,000 after buying an additional 37 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. raised its stake in shares of Kinsale Capital Group by 6.1% in the second quarter. Total Clarity Wealth Management Inc. now owns 691 shares of the financial services provider’s stock worth $266,000 after buying an additional 40 shares during the period. 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.