Kinsale Capital Group (KNSL) Upgraded to Buy by BidaskClub

Kinsale Capital Group (NASDAQ:KNSL) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also recently commented on KNSL. TheStreet raised Kinsale Capital Group from a “c” rating to a “b-” rating in a research note on Friday, July 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, August 7th. SunTrust Banks reissued a “buy” rating and set a $65.00 target price on shares of Kinsale Capital Group in a research note on Wednesday, August 8th. Finally, Zacks Investment Research cut Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Kinsale Capital Group has a consensus rating of “Buy” and a consensus target price of $61.33.

Shares of Kinsale Capital Group stock opened at $62.28 on Tuesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 50.49 and a beta of 0.14. Kinsale Capital Group has a one year low of $39.38 and a one year high of $64.33.

Kinsale Capital Group (NASDAQ:KNSL) last announced its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). The company had revenue of $54.95 million during the quarter, compared to analysts’ expectations of $53.63 million. Kinsale Capital Group had a return on equity of 12.59% and a net margin of 13.52%. equities analysts predict that Kinsale Capital Group will post 1.87 earnings per share for the current fiscal year.

In other news, Director Frederick L. Jr. Russell sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $59.32, for a total transaction of $59,320.00. Following the transaction, the director now directly owns 1,111 shares of the company’s stock, valued at $65,904.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William J. Jr. Kenney sold 13,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $61.48, for a total value of $845,350.00. Following the transaction, the senior vice president now directly owns 18,414 shares in the company, valued at $1,132,092.72. The disclosure for this sale can be found here. Insiders have sold 32,750 shares of company stock worth $1,975,370 over the last three months. Insiders own 8.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Atlanta Capital Management Co. L L C purchased a new position in shares of Kinsale Capital Group during the first quarter valued at approximately $24,088,000. Janus Henderson Group PLC purchased a new position in shares of Kinsale Capital Group during the second quarter valued at approximately $21,432,000. BlackRock Inc. increased its stake in shares of Kinsale Capital Group by 32.9% during the second quarter. BlackRock Inc. now owns 1,297,928 shares of the financial services provider’s stock valued at $71,207,000 after buying an additional 321,668 shares during the period. Hood River Capital Management LLC increased its stake in shares of Kinsale Capital Group by 33.9% during the second quarter. Hood River Capital Management LLC now owns 524,541 shares of the financial services provider’s stock valued at $28,776,000 after buying an additional 132,743 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kinsale Capital Group by 88.0% during the second quarter. Dimensional Fund Advisors LP now owns 235,098 shares of the financial services provider’s stock valued at $12,897,000 after buying an additional 110,029 shares during the period. 82.64% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.

Further Reading: Technical Analysis

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