Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $390.00

Kinsale Capital Group (NYSE:KNSL) had its target price lifted by Morgan Stanley from $345.00 to $390.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 4.48% from the company’s previous close.

A number of other analysts have also recently weighed in on KNSL. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Weiss Ratings lowered Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Truist Financial cut their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada decreased their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Reduce” and an average price target of $368.78.

Kinsale Capital Group Stock Up 1.7%

KNSL stock opened at $373.27 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 1 year low of $287.20 and a 1 year high of $485.00. The company has a fifty day simple moving average of $342.54 and a 200 day simple moving average of $345.50. The firm has a market cap of $8.50 billion, a PE ratio of 15.12, a PEG ratio of 1.20 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to analysts’ expectations of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.78 earnings per share. Sell-side analysts anticipate that Kinsale Capital Group will post 21.1 EPS for the current fiscal year.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard bought 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Kinsale Capital Group by 72.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 82 shares during the period. Jump Financial LLC increased its holdings in shares of Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 634 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Kinsale Capital Group by 45.3% during the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after buying an additional 1,566 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

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.