Kinsale Capital Group (NYSE:KNSL) Given New $410.00 Price Target at JPMorgan Chase & Co.

Kinsale Capital Group (NYSE:KNSL) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $450.00 to $410.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 9.45% from the company’s current price.

Several other analysts also recently weighed in on KNSL. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Wells Fargo & Company initiated coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a report on Friday. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, TD Cowen lowered their target price on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $453.36.

Kinsale Capital Group Stock Performance

Shares of KNSL traded up $1.18 during midday trading on Monday, hitting $374.59. 123,517 shares of the stock traded hands, compared to its average volume of 248,087. The business’s 50 day moving average price is $394.47 and its two-hundred day moving average price is $413.41. The firm has a market capitalization of $8.71 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.08. Kinsale Capital Group has a 1-year low of $341.06 and a 1-year high of $512.76.

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

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

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds have recently made changes to their positions in the business. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. Capital World Investors lifted 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 last quarter. Norges Bank acquired a new position in shares of Kinsale Capital Group in the 4th quarter worth $107,916,000. First Manhattan CO. LLC. grew its holdings 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 worth $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Kinsale Capital Group by 2,621.6% during the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock worth $35,638,000 after purchasing an additional 87,770 shares during the period. Institutional investors and hedge funds 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.