Kinsale Capital Group (KNSL) Lifted to “Buy” at Zacks Investment Research
Kinsale Capital Group (NASDAQ:KNSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $51.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.54% from the company’s current price.
According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “
A number of other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. SunTrust Banks reissued a “buy” rating and set a $50.00 target price on shares of Kinsale Capital Group in a research report on Monday, October 9th. They noted that the move was a valuation call. Finally, William Blair downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating in a research report on Monday, October 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $47.33.
Shares of Kinsale Capital Group (KNSL) opened at $44.14 on Wednesday. The firm has a market cap of $928.26 and a P/E ratio of 36.48. Kinsale Capital Group has a 52-week low of $27.19 and a 52-week high of $47.78.
In other Kinsale Capital Group news, SVP Ann Marie Marson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $43.00, for a total transaction of $322,500.00. Following the completion of the sale, the senior vice president now owns 105,334 shares of the company’s stock, valued at approximately $4,529,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Kinsale Capital Group by 678.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,463 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Kinsale Capital Group by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock worth $132,000 after buying an additional 515 shares in the last quarter. Howland Capital Management LLC bought a new position in shares of Kinsale Capital Group during the 3rd quarter worth approximately $203,000. Hancock Holding Co. bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $216,000. Finally, Voya Investment Management LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $230,000. 82.20% of the stock is owned by institutional investors and hedge funds.
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Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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