Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $360.00 at Cantor Fitzgerald

Kinsale Capital Group (NYSE:KNSL) had its price objective lowered by investment analysts at Cantor Fitzgerald from $422.00 to $360.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential downside of 5.13% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Royal Bank Of Canada assumed coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $433.00 target price on shares of Kinsale Capital Group in a research note on Friday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $467.00.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded up $8.15 during trading hours on Tuesday, reaching $379.47. 80,070 shares of the stock were exchanged, compared to its average volume of 231,853. The stock has a market capitalization of $8.83 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.31 and a beta of 0.99. The firm has a 50 day simple moving average of $394.96 and a 200-day simple moving average of $415.35. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 52 week low of $341.06 and a 52 week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The business had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period in the prior year, the company posted $4.62 EPS. As a group, sell-side analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group announced that its board has authorized a share buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY boosted its holdings in shares of Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after buying an additional 24,796 shares during the period. Capital World Investors lifted its stake in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kinsale Capital Group by 2.1% in the second quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock valued at $288,657,000 after buying an additional 12,040 shares during the period. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $229,653,000. Finally, DAVENPORT & Co LLC increased its stake in Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after acquiring an additional 10,137 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.