Kinsale Capital Group (NYSE:KNSL) Stock Price Target Lowered at Morgan Stanley

Kinsale Capital Group (NYSE:KNSL) had its price objective lowered by Morgan Stanley from $390.00 to $350.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 4.99% from the stock’s current price.

Other research analysts have also issued reports about the company. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wells Fargo & Company boosted their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $364.33.

Kinsale Capital Group Trading Up 0.3%

KNSL stock traded up $0.96 during mid-day trading on Tuesday, reaching $333.38. The company had a trading volume of 38,902 shares, compared to its average volume of 269,926. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a 50 day moving average of $363.98 and a 200 day moving average of $340.45. The company has a market capitalization of $7.59 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. Kinsale Capital Group has a 12 month low of $287.20 and a 12 month high of $485.00.

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

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY purchased a new position in Kinsale Capital Group during the second quarter worth approximately $878,600,000. BlackRock Inc. purchased a new stake in shares of Kinsale Capital Group in the second quarter valued at approximately $671,457,000. Capital World Investors increased its position in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. raised its stake in shares of Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after buying an additional 100,600 shares during the period. Finally, Turtle Creek Asset Management Inc. raised its stake in shares of Kinsale Capital Group by 47.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after buying an additional 132,576 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.