BMO Capital Markets Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $453.00

Kinsale Capital Group (NYSE:KNSL) had its price objective lowered by stock analysts at BMO Capital Markets from $544.00 to $453.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 24.92% from the company’s current price.

A number of other equities analysts have also weighed in on KNSL. Royal Bank of Canada reiterated a “sector perform” rating and set a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Compass Point decreased their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Truist Financial cut their price objective on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $438.43.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock traded up $4.62 during mid-day trading on Tuesday, reaching $362.62. 63,156 shares of the company’s stock were exchanged, compared to its average volume of 195,859. Kinsale Capital Group has a one year low of $297.33 and a one year high of $548.47. The firm has a market capitalization of $8.41 billion, a PE ratio of 24.01 and a beta of 0.89. The business’s fifty day simple moving average is $488.67 and its 200 day simple moving average is $414.99. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. During the same period last year, the business posted $2.44 earnings per share. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. On average, sell-side analysts expect that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Insider Activity at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC bought a new stake in Kinsale Capital Group in the fourth quarter worth $25,000. Emerald Advisers LLC bought a new position in Kinsale Capital Group during the 3rd quarter valued at approximately $33,000. Brown Brothers Harriman & Co. bought a new position in Kinsale Capital Group during the 4th quarter valued at approximately $33,000. Beacon Capital Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $33,000. Finally, Quarry LP bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $40,000. Hedge funds and other 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.