Kinsale Capital Group (NYSE:KNSL) Raised to Hold at Wall Street Zen

Kinsale Capital Group (NYSE:KNSL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets cut Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a report on Wednesday, February 25th. Truist Financial reduced their price objective on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company initiated coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price on the stock. Finally, Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their price target for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $430.91.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $345.25 on Friday. The company has a 50 day moving average price of $370.80 and a 200-day moving average price of $394.35. Kinsale Capital Group has a 52 week low of $321.97 and a 52 week high of $512.76. The firm has a market capitalization of $7.99 billion, a PE ratio of 15.93, a P/E/G ratio of 1.13 and a beta of 1.08. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The company had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. During the same quarter in the prior year, the firm earned $4.62 earnings per share. As a group, equities research analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current year.

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

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. Epoch Investment Partners Inc. boosted its position in shares of Kinsale Capital Group by 1.1% in the second quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock worth $1,052,000 after purchasing an additional 23 shares during the period. Vident Advisory LLC raised its position in shares of Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 23 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in shares of Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock valued at $339,000 after buying an additional 28 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after buying an additional 28 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Kinsale Capital Group by 39.0% in the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider’s stock worth $42,000 after buying an additional 30 shares during the period. Institutional investors own 85.36% of the company’s stock.

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.