Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $377.00

Kinsale Capital Group (NYSE:KNSL) had its price target hoisted by equities research analysts at Wells Fargo & Company from $366.00 to $377.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.11% from the stock’s current price.

Several other analysts have also issued reports on KNSL. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Cantor Fitzgerald lowered their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Royal Bank Of Canada decreased their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Reduce” and a consensus target price of $374.90.

Kinsale Capital Group Price Performance

KNSL stock opened at $348.70 on Monday. Kinsale Capital Group has a 52-week low of $287.20 and a 52-week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90. The business has a fifty day moving average of $321.17 and a two-hundred day moving average of $349.01.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating the consensus estimate of $5.11 by $0.43. The business 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 company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.78 EPS. As a group, research analysts anticipate that Kinsale Capital Group will post 20.72 earnings per share for the current year.

Insider Activity

In other news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after buying an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the period. Brown Advisory Inc. boosted its position in shares of Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock valued at $541,000 after acquiring an additional 82 shares in the last quarter. Jump Financial LLC boosted its position in shares of Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 634 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after acquiring an additional 1,566 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Company Profile

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.