Morgan Stanley Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $520.00

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by Morgan Stanley from $535.00 to $520.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 15.95% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research report on Monday, October 28th. BMO Capital Markets upped their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Truist Financial cut their price objective on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $460.78.

Kinsale Capital Group Trading Down 5.9 %

Shares of Kinsale Capital Group stock opened at $448.46 on Friday. The firm has a 50-day moving average of $461.29 and a 200-day moving average of $465.57. The stock has a market cap of $10.44 billion, a PE ratio of 25.57, a PEG ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a 52-week low of $355.12 and a 52-week high of $548.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. As a group, sell-side analysts forecast that Kinsale Capital Group will post 15.67 EPS for the current year.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,235 shares of company stock valued at $3,618,954. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Kinsale Capital Group by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the period. Avior Wealth Management LLC increased its position in Kinsale Capital Group by 7,392.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,035 shares during the period. Geneva Capital Management LLC increased its position in Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the period. Swedbank AB increased its position in Kinsale Capital Group by 5.0% during the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after purchasing an additional 57,460 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.