Kinsale Capital Group, Inc. (NASDAQ:KNSL) Stock Rating Reaffirmed by Royal Bank Of Canada
Kinsale Capital Group, Inc. (NASDAQ:KNSL)‘s stock had its “buy” rating reissued by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Sunday. They presently have a $41.00 target price on the financial services provider’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 0.41% from the stock’s current price.
KNSL has been the topic of several other reports. Zacks Investment Research cut Kinsale Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. SunTrust Banks, Inc. reissued a “buy” rating on shares of Kinsale Capital Group in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Kinsale Capital Group currently has a consensus rating of “Buy” and a consensus target price of $30.75.
Shares of Kinsale Capital Group (NASDAQ:KNSL) traded up 9.44% during midday trading on Friday, hitting $41.17. The company had a trading volume of 143,099 shares. The firm’s 50 day moving average is $37.40 and its 200 day moving average is $33.87. Kinsale Capital Group has a 52 week low of $18.17 and a 52 week high of $42.09. The company has a market capitalization of $863.25 million and a P/E ratio of 73.00.
In other Kinsale Capital Group news, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total transaction of $136,125,658.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 250,000 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $31.60, for a total value of $7,900,000.00. The disclosure for this sale can be found here. 11.20% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of KNSL. American International Group Inc. purchased a new stake in Kinsale Capital Group during the first quarter valued at $129,000. Russell Investments Group Ltd. boosted its stake in Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock valued at $132,000 after buying an additional 515 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Kinsale Capital Group during the first quarter valued at $204,000. Alliancebernstein L.P. purchased a new stake in Kinsale Capital Group during the first quarter valued at $218,000. Finally, Citadel Advisors LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at $237,000. 59.41% of the stock is currently owned by institutional investors and hedge funds.
About Kinsale Capital Group
Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.
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