Truist Financial Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by analysts at Truist Financial from $510.00 to $450.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 18.55% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company started coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Cantor Fitzgerald cut their target price on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $457.00.

Kinsale Capital Group Stock Up 0.8%

Kinsale Capital Group stock opened at $379.59 on Tuesday. The firm has a market capitalization of $8.83 billion, a PE ratio of 17.52, a P/E/G ratio of 1.55 and a beta of 0.99. The company’s 50-day moving average is $395.08 and its 200-day moving average is $414.63. Kinsale Capital Group has a fifty-two week low of $341.06 and a fifty-two week high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The business had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period last year, the business posted $4.62 EPS. Sell-side analysts anticipate that Kinsale Capital Group will post 17.72 earnings per share for the current year.

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

Institutional Trading of Kinsale Capital Group

Several large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Kinsale Capital Group during the fourth quarter valued at approximately $25,000. eCIO Inc. bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth $29,000. International Assets Investment Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth $29,000. Johnson Financial Group Inc. grew its position in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Kinsale Capital Group during the third quarter worth about $33,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.