Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Average Recommendation of “Reduce” from Analysts

Kinsale Capital Group, Inc. (NYSE:KNSL) has earned an average rating of “Reduce” from the ten research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $362.1111.

A number of research firms recently issued reports on KNSL. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Royal Bank Of Canada reduced their price objective 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. Morgan Stanley decreased their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th.

Kinsale Capital Group Stock Performance

KNSL opened at $367.65 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $485.00. The firm has a 50 day moving average of $333.41 and a two-hundred day moving average of $346.58. The firm has a market capitalization of $8.38 billion, a PE ratio of 14.90, a P/E/G ratio of 1.18 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data 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 the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.78 EPS. On average, analysts anticipate that Kinsale Capital Group will post 21.1 EPS for the current year.

Insider Buying and Selling

In other news, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher R. Tangard bought 330 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Kinsale Capital Group in the second quarter valued at $671,457,000. Capital World Investors grew its position in shares of Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after acquiring an additional 533,499 shares during the period. First Manhattan CO. LLC. increased its stake in shares of Kinsale Capital Group by 19.6% in the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after purchasing an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $229,653,000. Finally, Turtle Creek Asset Management Inc. increased its stake in shares of Kinsale Capital Group by 47.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after purchasing an additional 132,576 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.