JPMorgan Chase & Co. Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $412.00

Kinsale Capital Group (NYSE:KNSL) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $415.00 to $412.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.81% from the stock’s previous close.

Several other research firms have also issued reports on KNSL. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. BMO Capital Markets increased their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Royal Bank of Canada dropped their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Morgan Stanley assumed coverage on Kinsale Capital Group in a research note on Thursday, December 5th. They set an “overweight” rating and a $593.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $471.11.

Kinsale Capital Group Trading Down 5.7 %

Shares of NYSE:KNSL opened at $428.32 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group has a 12-month low of $351.30 and a 12-month high of $548.47. The business has a 50 day moving average of $475.60 and a two-hundred day moving average of $453.66. The company has a market capitalization of $9.97 billion, a PE ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the previous year, the business posted $3.31 EPS. The business’s revenue was up 33.0% compared to the same quarter last year. As a group, analysts forecast that Kinsale Capital Group will post 15.61 EPS for the current year.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Westfield Capital Management Co. LP lifted its stake in shares of Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after purchasing an additional 58,971 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after buying an additional 57,460 shares during the last quarter. International Assets Investment Management LLC lifted its position in Kinsale Capital Group by 76,986.9% in the third quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock valued at $21,892,000 after buying an additional 46,962 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Kinsale Capital Group during the third quarter worth about $18,599,000. Finally, Geode Capital Management LLC increased its position in shares of Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.