Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $422.00 at Cantor Fitzgerald

Kinsale Capital Group (NYSE:KNSL) had its price objective lowered by stock analysts at Cantor Fitzgerald from $470.00 to $422.00 in a report issued on Wednesday, Marketbeat.com reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 10.83% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $475.11.

Kinsale Capital Group Trading Down 2.5%

KNSL opened at $380.76 on Wednesday. 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 one year low of $349.00 and a one year high of $512.76. The company has a market cap of $8.86 billion, a P/E ratio of 18.70, a PEG ratio of 1.37 and a beta of 1.00. The business’s 50-day simple moving average is $387.66 and its 200-day simple moving average is $428.63.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.79 by $0.42. The firm had revenue of $497.51 million during the quarter, compared to the consensus estimate of $446.00 million. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.20 earnings per share. As a group, equities research analysts expect that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group declared that its board has initiated a share buyback plan on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cresset Asset Management LLC lifted its holdings in Kinsale Capital Group by 145.3% in the second quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock valued at $2,743,000 after acquiring an additional 3,357 shares during the period. Ascent Group LLC grew its position in shares of Kinsale Capital Group by 26.4% in the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock valued at $6,867,000 after purchasing an additional 3,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kinsale Capital Group by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock worth $79,659,000 after buying an additional 3,448 shares in the last quarter. Riverbridge Partners LLC raised its stake in Kinsale Capital Group by 11.1% in the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after purchasing an additional 29,053 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Kinsale Capital Group by 2.7% during the second quarter. Congress Asset Management Co. now owns 56,714 shares of the financial services provider’s stock valued at $27,444,000 after buying an additional 1,480 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.