Wells Fargo & Company Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective reduced by stock analysts at Wells Fargo & Company from $377.00 to $348.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.18% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Cantor Fitzgerald boosted their price objective on shares of Kinsale Capital Group from $259.00 to $264.00 and gave the stock a “neutral” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $390.00 to $375.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Weiss Ratings raised shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $357.67.

Kinsale Capital Group Stock Down 0.2%

KNSL opened at $340.56 on Monday. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $477.02. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.07 and a beta of 0.88. The business has a 50 day moving average of $360.80 and a 200-day moving average of $340.72.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same quarter last year, the company posted $4.78 earnings per share. Kinsale Capital Group’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Kinsale Capital Group will post 21.17 earnings per share for the current year.

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Copeland Capital Management LLC boosted its position in shares of Kinsale Capital Group by 11.0% during the 3rd quarter. Copeland Capital Management LLC now owns 162,676 shares of the financial services provider’s stock valued at $52,504,000 after acquiring an additional 16,091 shares in the last quarter. Krilogy Financial LLC bought a new stake in Kinsale Capital Group in the third quarter valued at about $297,000. NorthCrest Asset Manangement LLC bought a new stake in Kinsale Capital Group in the third quarter valued at about $259,000. GAMMA Investing LLC increased its stake in Kinsale Capital Group by 62.4% in the third quarter. GAMMA Investing LLC now owns 1,036 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 398 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Kinsale Capital Group by 13.5% in the third quarter. Farther Finance Advisors LLC now owns 968 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.