Kinsale Capital Group (NASDAQ:KNSL) Downgraded by BidaskClub

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BidaskClub downgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

A number of other research firms have also recently weighed in on KNSL. ValuEngine upgraded shares of Zuora from a hold rating to a buy rating in a research report on Saturday, July 6th. SunTrust Banks upped their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a hold rating in a research report on Monday, July 1st. Royal Bank of Canada reduced their price objective on shares of Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating for the company in a research report on Monday, May 6th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. Finally, TheStreet cut shares of USD Partners from a b- rating to a c+ rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $92.00.

KNSL opened at $90.77 on Friday. The company has a fifty day moving average price of $90.50. Kinsale Capital Group has a 1 year low of $50.34 and a 1 year high of $99.70. The firm has a market cap of $1.93 billion, a PE ratio of 50.71 and a beta of 0.54.

Kinsale Capital Group (NASDAQ:KNSL) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.14. Kinsale Capital Group had a net margin of 18.52% and a return on equity of 16.77%. The firm had revenue of $72.19 million during the quarter, compared to analysts’ expectations of $62.98 million. As a group, sell-side analysts forecast that Kinsale Capital Group will post 2.42 earnings per share for the current year.

In other news, Director Frederick L. Jr. Russell sold 5,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $81.96, for a total value of $409,800.00. Following the completion of the sale, the director now directly owns 2,281 shares in the company, valued at $186,950.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick L. Jr. Russell sold 1,111 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $80.30, for a total transaction of $89,213.30. Following the completion of the sale, the director now owns 1,170 shares of the company’s stock, valued at $93,951. The disclosure for this sale can be found here. Insiders have sold 33,037 shares of company stock valued at $2,809,122 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of KNSL. Alpha Omega Wealth Management LLC raised its position in shares of Kinsale Capital Group by 147.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $34,000 after buying an additional 295 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at about $45,000. Great West Life Assurance Co. Can raised its position in shares of Kinsale Capital Group by 94.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,423 shares of the financial services provider’s stock valued at $129,000 after buying an additional 1,179 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at about $129,000. Finally, Legal & General Group Plc raised its position in shares of Kinsale Capital Group by 10.2% in the fourth quarter. Legal & General Group Plc now owns 3,527 shares of the financial services provider’s stock valued at $196,000 after buying an additional 327 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

About Kinsale Capital Group

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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