Kinsale Capital Group (NYSE:KNSL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Kinsale Capital Group (NYSE:KNSL) had its target price upped by research analysts at JPMorgan Chase & Co. from $380.00 to $390.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.05% from the company’s current price.

KNSL has been the subject of several other research reports. Royal Bank Of Canada reduced their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley dropped their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Reduce” and a consensus price target of $373.80.

Kinsale Capital Group Trading Down 3.2%

KNSL opened at $338.97 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 52 week low of $287.20 and a 52 week high of $512.76. The business’s 50 day moving average is $319.34 and its two-hundred day moving average is $350.23. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.71 earnings per share. On average, research analysts predict that Kinsale Capital Group will post 20.71 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 361 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the period. Brown Advisory Inc. increased its holdings in shares of Kinsale Capital Group by 7.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 82 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 634 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after purchasing an additional 1,566 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.