Truist Financial Boosts Kinsale Capital Group (NYSE:KNSL) Price Target to $485.00

Kinsale Capital Group (NYSE:KNSL) had its target price lifted by Truist Financial from $440.00 to $485.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 10.73% from the company’s previous close.

Several other analysts have also recently commented on KNSL. TD Cowen initiated coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They set a “hold” rating and a $403.00 price objective for the company. Oppenheimer started coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Compass Point cut their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada upped their target price on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $443.38.

Kinsale Capital Group Stock Down 1.2 %

KNSL stock traded down $5.29 during trading on Monday, reaching $438.00. 176,210 shares of the company traded hands, compared to its average volume of 187,147. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50 day simple moving average of $386.43 and a 200 day simple moving average of $426.38. Kinsale Capital Group has a 12 month low of $325.01 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The company had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same quarter last year, the business posted $2.88 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities research analysts anticipate that Kinsale Capital Group will post 15.03 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSL. Cim LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $1,934,000. Axiom Investors LLC DE raised its position in Kinsale Capital Group by 116.3% in the fourth quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock valued at $14,781,000 after purchasing an additional 23,728 shares during the period. Carnegie Capital Asset Management LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth $8,002,000. Janney Montgomery Scott LLC boosted its position in shares of Kinsale Capital Group by 113.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after buying an additional 2,172 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Kinsale Capital Group by 129.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock valued at $14,814,000 after buying an additional 24,992 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.