Royal Bank of Canada Reiterates Sector Perform Rating for Kinsale Capital Group (NYSE:KNSL)

Kinsale Capital Group (NYSE:KNSL)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $425.00 price objective on the financial services provider’s stock, down from their previous price objective of $555.00. Royal Bank of Canada’s price target points to a potential upside of 17.00% from the stock’s current price.

Several other research analysts have also weighed in on KNSL. BMO Capital Markets lowered Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Truist Financial increased their price objective on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $438.43.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $363.25 on Monday. Kinsale Capital Group has a one year low of $297.33 and a one year high of $548.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $8.42 billion, a PE ratio of 24.14 and a beta of 0.89. The stock has a 50 day moving average price of $486.01 and a 200 day moving average price of $414.46.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group will post 15.31 EPS for the current fiscal year.

Insider Activity at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Kinsale Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $25,000. Emerald Advisers LLC acquired a new stake in shares of Kinsale Capital Group during the third quarter worth about $33,000. Beacon Capital Management LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $33,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $33,000. Finally, Quarry LP acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.