Wall Street Zen Upgrades Kinsale Capital Group (NYSE:KNSL) to “Hold”

Kinsale Capital Group (NYSE:KNSL) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities analysts have also issued reports about the company. Bank of America started coverage on Kinsale Capital Group in a research note on Friday. They set a “buy” rating and a $543.00 price target on the stock. Truist Financial lowered their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Morgan Stanley upped their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $491.88.

Kinsale Capital Group Trading Up 0.7%

Shares of KNSL stock opened at $479.46 on Friday. The firm has a market capitalization of $11.18 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. Kinsale Capital Group has a 1 year low of $366.92 and a 1 year high of $531.79. The firm’s fifty day simple moving average is $464.38 and its 200 day simple moving average is $460.11. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $3.50 EPS. As a group, sell-side analysts predict that Kinsale Capital Group will post 17.72 EPS for the current year.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president now directly owns 6,646 shares of the company’s stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KNSL. Whittier Trust Co. of Nevada Inc. raised its position in Kinsale Capital Group by 11.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 21 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Kinsale Capital Group by 1.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider’s stock valued at $683,000 after buying an additional 25 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Kinsale Capital Group by 2.1% in the first quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider’s stock valued at $627,000 after buying an additional 27 shares during the last quarter. Strategic Advisors LLC lifted its position in Kinsale Capital Group by 0.6% during the 1st quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 30 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Kinsale Capital Group by 0.7% during the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider’s stock worth $2,188,000 after acquiring an additional 30 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.