Kinsale Capital Group (NYSE:KNSL) Price Target Cut to $330.00 by Analysts at Morgan Stanley

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by equities research analysts at Morgan Stanley from $350.00 to $330.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 7.09% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Cantor Fitzgerald lowered their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research note on Wednesday, February 25th. Truist Financial reduced their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Royal Bank Of Canada lowered their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $390.18.

Kinsale Capital Group Stock Down 1.7%

Shares of NYSE:KNSL opened at $308.16 on Thursday. Kinsale Capital Group has a 1 year low of $293.78 and a 1 year high of $512.76. The company has a market capitalization of $7.11 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.02 and a beta of 0.95. The business has a fifty day moving average price of $336.73 and a two-hundred day moving average price of $370.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. During the same period in the previous year, the firm earned $3.71 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that Kinsale Capital Group will post 20.58 earnings per share for the current year.

Insider Buying and Selling at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at about $25,000. Bayban bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $25,000. eCIO Inc. purchased a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. lifted its position in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

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.