Kinsale Capital Group (NYSE:KNSL) Given New $390.00 Price Target at Morgan Stanley

Kinsale Capital Group (NYSE:KNSL) had its price objective upped by equities research analysts at Morgan Stanley from $345.00 to $390.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 4.48% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their target price on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Truist Financial dropped their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Reduce” and an average price target of $368.78.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $373.27 on Wednesday. Kinsale Capital Group has a 12 month low of $287.20 and a 12 month high of $485.00. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.20 and a beta of 0.89. The stock’s 50 day moving average price is $342.54 and its 200 day moving average price is $345.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The firm had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. During the same period last year, the company posted $4.78 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Christopher R. Tangard acquired 330 shares of the company’s stock in a transaction on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently modified their holdings of KNSL. Bayban purchased a new position in Kinsale Capital Group in the fourth quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $29,000. Johnson Financial Group Inc. lifted its holdings in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $38,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

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.