Cantor Fitzgerald Forecasts Strong Price Appreciation for Kinsale Capital Group (NYSE:KNSL) Stock

Kinsale Capital Group (NYSE:KNSL) had its price objective upped by analysts at Cantor Fitzgerald from $259.00 to $264.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 22.10% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley cut their price target on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a report on Tuesday. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company increased their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $362.56.

Kinsale Capital Group Trading Up 2.5%

Shares of KNSL opened at $338.88 on Wednesday. The stock has a fifty day moving average price of $362.05 and a two-hundred day moving average price of $340.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $480.48. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.04 and a beta of 0.88.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million for 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%.The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.78 earnings per share. Analysts predict that Kinsale Capital Group will post 21.1 EPS 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. GAMMA Investing LLC lifted 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 buying an additional 398 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Kinsale Capital Group by 13.5% during the third quarter. Farther Finance Advisors LLC now owns 968 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 115 shares in the last quarter. Benedict Financial Advisors Inc. increased its position in shares of Kinsale Capital Group by 3.5% during the third quarter. Benedict Financial Advisors Inc. now owns 1,964 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 66 shares in the last quarter. American National Bank of Texas raised its stake in shares of Kinsale Capital Group by 7.5% in the 3rd quarter. American National Bank of Texas now owns 1,150 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 80 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of Kinsale Capital Group in the third quarter valued at about $206,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

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.