Cantor Fitzgerald Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $280.00

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by equities research analysts at Cantor Fitzgerald from $360.00 to $280.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 19.70% from the company’s current price.

KNSL has been the topic of a number of other research reports. Jefferies Financial Group lowered shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $392.00 to $312.00 in a report on Thursday, March 19th. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a report on Friday, March 27th. Truist Financial decreased their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $405.45.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $348.68 on Thursday. The firm’s 50 day simple moving average is $366.60 and its 200 day simple moving average is $392.20. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $8.07 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.08. Kinsale Capital Group has a 1-year low of $321.97 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted 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 net margin of 26.87% and a return on equity of 25.45%. During the same quarter in the prior year, the firm posted $4.62 EPS. As a group, analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. World Investment Advisors grew its stake in Kinsale Capital Group by 47.9% in the 4th quarter. World Investment Advisors now owns 1,028 shares of the financial services provider’s stock worth $402,000 after buying an additional 333 shares in the last quarter. Montanaro Asset Management Ltd purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $1,095,000. Bayban purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $25,000. Virtu Financial LLC grew its stake in Kinsale Capital Group by 175.2% in the 4th quarter. Virtu Financial LLC now owns 3,118 shares of the financial services provider’s stock worth $1,219,000 after buying an additional 1,985 shares in the last quarter. Finally, Vancity Investment Management Ltd grew its stake in Kinsale Capital Group by 11.9% in the 4th quarter. Vancity Investment Management Ltd now owns 2,423 shares of the financial services provider’s stock worth $947,000 after buying an additional 258 shares in the last quarter. Hedge funds and other 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.