Kinsale Capital Group’s (KNSL) “Equal Weight” Rating Reiterated at Morgan Stanley

Kinsale Capital Group (NYSE:KNSL)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $350.00 target price on the financial services provider’s stock, down from their prior target price of $450.00. Morgan Stanley’s target price suggests a potential upside of 1.37% from the company’s previous close.

KNSL has been the subject of several other reports. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald lowered their target price on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $419.09.

Kinsale Capital Group Price Performance

KNSL opened at $345.25 on Monday. The stock has a fifty day moving average price of $370.80 and a 200 day moving average price of $394.35. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 1 year low of $321.97 and a 1 year high of $512.76. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.13 and a beta of 1.08.

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

Kinsale Capital Group announced that its board has initiated a stock 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 often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group during the 4th quarter worth $229,653,000. Capital World Investors increased 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 worth $386,366,000 after purchasing an additional 533,499 shares during the period. Norges Bank acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth about $107,916,000. First Manhattan CO. LLC. boosted its stake in Kinsale Capital Group by 19.6% during 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 during the period. Finally, M&T Bank Corp grew its holdings in Kinsale Capital Group by 2,621.6% in the 4th quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock valued at $35,638,000 after buying an additional 87,770 shares during the last quarter. Institutional investors 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.