Kinsale Capital Group (NYSE:KNSL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Kinsale Capital Group (NYSE:KNSL) had its target price lifted by analysts at BMO Capital Markets from $445.00 to $461.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective points to a potential downside of 4.34% from the company’s current price.

A number of other research firms have also issued reports on KNSL. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Jefferies Financial Group increased their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Truist Financial reduced their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Royal Bank of Canada cut their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Up 0.8 %

NYSE KNSL traded up $3.60 during trading on Thursday, reaching $481.89. 9,534 shares of the company’s stock were exchanged, compared to its average volume of 172,550. The company has a 50 day moving average price of $458.87 and a two-hundred day moving average price of $431.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a 1 year low of $325.01 and a 1 year high of $548.47. The stock has a market cap of $11.22 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.02 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter in the previous year, the firm posted $3.31 EPS. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, equities research analysts anticipate that Kinsale Capital Group will post 15.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in Kinsale Capital Group by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after acquiring an additional 6,331 shares during the period. State Street Corp increased its holdings in shares of Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after purchasing an additional 8,954 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Kinsale Capital Group by 14.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares during the period. Finally, Geneva Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after purchasing an additional 5,207 shares during the period. Institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

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.