Royal Bank of Canada Reaffirms Sector Perform Rating for Kinsale Capital Group (NYSE:KNSL)

Kinsale Capital Group (NYSE:KNSL)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $500.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 13.25% from the stock’s previous close.

A number of other research firms have also issued reports on KNSL. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research report on Monday, October 28th. Morgan Stanley dropped their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial boosted their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Price Performance

KNSL stock traded down $7.84 on Tuesday, reaching $441.50. 307,308 shares of the company’s stock were exchanged, compared to its average volume of 222,794. The stock has a fifty day moving average of $458.10 and a 200-day moving average of $465.89. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a market cap of $10.28 billion, a PE ratio of 25.17, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a twelve month low of $355.12 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. As a group, equities analysts predict that Kinsale Capital Group will post 15.67 EPS for the current fiscal year.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in Kinsale Capital Group in the 4th quarter worth approximately $31,000. Larson Financial Group LLC boosted its holdings in Kinsale Capital Group by 7,400.0% in the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Allworth Financial LP boosted its holdings in Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Kinsale Capital Group in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.