Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $390.00 at JPMorgan Chase & Co.

Kinsale Capital Group (NYSE:KNSL) had its price objective raised by JPMorgan Chase & Co. from $380.00 to $390.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.39% from the stock’s current price.

Several other equities research analysts have also commented on the company. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Wells Fargo & Company lifted their price objective on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Truist Financial dropped their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $373.80.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded up $6.13 during midday trading on Monday, hitting $350.12. The company had a trading volume of 53,257 shares, compared to its average volume of 281,114. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a twelve month low of $287.20 and a twelve month high of $512.76. The business has a 50-day simple moving average of $317.62 and a two-hundred day simple moving average of $350.92. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period in the prior year, the business posted $3.71 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that Kinsale Capital Group will post 20.71 earnings per share for the current year.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by insiders.

Institutional Trading of Kinsale Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Isthmus Partners LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth about $8,110,000. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $229,653,000. Tudor Investment Corp ET AL raised its holdings in shares of Kinsale Capital Group by 7,444.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after buying an additional 37,221 shares during the period. Stephens Investment Management Group LLC raised its holdings in shares of Kinsale Capital Group by 37.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock valued at $81,382,000 after buying an additional 56,916 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Kinsale Capital Group by 9.6% during the 4th quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock worth $22,294,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.