Cantor Fitzgerald Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $360.00

Kinsale Capital Group (NYSE:KNSL) had its target price lowered by Cantor Fitzgerald from $422.00 to $360.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price target indicates a potential downside of 5.16% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Jefferies Financial Group reissued a “hold” rating and set a $433.00 price target on shares of Kinsale Capital Group in a research note on Friday, February 13th. Royal Bank Of Canada began coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective for the company. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Finally, TD Cowen reduced their target price on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $457.00.

Kinsale Capital Group Stock Up 0.8%

Shares of NYSE KNSL opened at $379.59 on Tuesday. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.55 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12 month low of $341.06 and a 12 month high of $512.76. The stock has a 50-day moving average price of $395.08 and a two-hundred day moving average price of $414.63.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The business had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. During the same period in the prior year, the company earned $4.62 EPS. As a group, analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its Board of Directors has initiated a share buyback program on Thursday, December 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cresset Asset Management LLC boosted its holdings in Kinsale Capital Group by 145.3% during the second quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock worth $2,743,000 after purchasing an additional 3,357 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Kinsale Capital Group by 17.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock worth $9,569,000 after buying an additional 3,305 shares in the last quarter. Ascent Group LLC boosted its stake in shares of Kinsale Capital Group by 26.4% in the 3rd quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock worth $6,867,000 after buying an additional 3,375 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kinsale Capital Group by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock valued at $79,659,000 after acquiring an additional 3,448 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Kinsale Capital Group by 492.8% during the third quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock valued at $6,125,000 after acquiring an additional 11,974 shares during the last quarter. Institutional investors and hedge funds 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.