Kinsale Capital Group (NYSE:KNSL) Rating Lowered to Sell at Wall Street Zen

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

Several other brokerages also recently weighed in on KNSL. Royal Bank Of Canada began coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $433.00 target price on shares of Kinsale Capital Group in a report on Friday, February 13th. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a report on Wednesday, February 25th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $389.80 on Friday. The firm’s 50 day simple moving average is $393.52 and its 200 day simple moving average is $411.28. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 1.59 and a beta of 1.01. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 1 year low of $341.06 and a 1 year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period in the prior year, the company earned $4.62 earnings per share. As a group, research analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently modified their holdings of KNSL. Virtu Financial LLC raised its position in Kinsale Capital Group by 175.2% during the 4th quarter. Virtu Financial LLC now owns 3,118 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 1,985 shares during the last quarter. Vancity Investment Management Ltd increased its stake in shares of Kinsale Capital Group by 11.9% in the fourth quarter. Vancity Investment Management Ltd now owns 2,423 shares of the financial services provider’s stock valued at $947,000 after buying an additional 258 shares during the period. Invesco Ltd. increased its stake in shares of Kinsale Capital Group by 0.5% in the fourth quarter. Invesco Ltd. now owns 276,090 shares of the financial services provider’s stock valued at $107,984,000 after buying an additional 1,366 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Kinsale Capital Group by 8.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,491 shares of the financial services provider’s stock worth $974,000 after acquiring an additional 201 shares during the last quarter. Finally, Cim LLC lifted its stake in shares of Kinsale Capital Group by 4.5% in the fourth quarter. Cim LLC now owns 3,146 shares of the financial services provider’s stock worth $1,230,000 after acquiring an additional 136 shares during the period. Institutional investors own 85.36% of the company’s stock.

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.