Kinsale Capital Group (NYSE:KNSL) Price Target Raised to $264.00

Kinsale Capital Group (NYSE:KNSL) had its price objective increased by investment analysts at Cantor Fitzgerald from $259.00 to $264.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price objective suggests a potential downside of 21.44% from the company’s current price.

Several other equities research analysts also recently issued reports on KNSL. Morgan Stanley dropped their target price on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Wells Fargo & Company raised their target price on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $362.56.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $336.06 on Wednesday. The firm has a market capitalization of $7.66 billion, a PE ratio of 13.62, a P/E/G ratio of 1.05 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $363.29 and a two-hundred day moving average price of $340.36. Kinsale Capital Group has a twelve month low of $287.20 and a twelve month high of $485.00.

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

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY purchased a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at about $878,600,000. BlackRock Inc. bought a new position in shares of Kinsale Capital Group in the second quarter worth approximately $671,457,000. First Manhattan CO. LLC. raised its stake in Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after purchasing an additional 100,600 shares in the last quarter. Turtle Creek Asset Management Inc. raised its stake in Kinsale Capital Group by 47.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after purchasing an additional 132,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Kinsale Capital Group by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock valued at $102,435,000 after purchasing an additional 14,178 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, including Kinsale Insurance Company, the company provides commercial property and casualty insurance in the United States.

Kinsale focuses primarily on the excess and surplus lines market, which serves businesses with risks that may not be accommodated by standard insurance carriers. Its offerings include coverage for commercial property, general liability, professional liability, commercial auto, and other specialized risks.