Kinsale Capital Group (NYSE:KNSL) Downgraded to “Sell” Rating by Wall Street Zen

Kinsale Capital Group (NYSE:KNSL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

KNSL has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research report on Wednesday. Truist Financial dropped their price objective on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $433.00 target price on shares of Kinsale Capital Group in a research report on Friday, February 13th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $389.80 on Friday. Kinsale Capital Group has a 52-week low of $341.06 and a 52-week high of $512.76. The stock has a fifty day moving average of $393.52 and a 200 day moving average of $411.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.08. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.57 and a beta of 0.99.

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bamco Inc. NY boosted its position in Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after buying an additional 24,796 shares during the period. Capital World Investors grew its stake in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after purchasing an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. increased its holdings in Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after purchasing an additional 100,600 shares during the period. Geode Capital Management LLC increased its holdings in Kinsale Capital Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock valued at $288,657,000 after purchasing an additional 12,040 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new position in Kinsale Capital Group during the 4th quarter valued at approximately $229,653,000. Institutional investors 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.