JPMorgan Chase & Co. Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $390.00 to $375.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 11.25% from the company’s previous close.

KNSL has been the subject of a number of other reports. Cantor Fitzgerald boosted their price target on Kinsale Capital Group from $259.00 to $264.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings raised shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of 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. Morgan Stanley reduced their price target on shares of Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $360.89.

Kinsale Capital Group Stock Down 0.8%

NYSE:KNSL traded down $2.56 during mid-day trading on Friday, reaching $337.09. The stock had a trading volume of 293,366 shares, compared to its average volume of 270,090. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. Kinsale Capital Group has a 1-year low of $287.20 and a 1-year high of $478.71. The stock’s 50 day simple moving average is $362.05 and its two-hundred day simple moving average is $340.46.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $445.13 million. During the same quarter in the prior year, the firm posted $4.78 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Kinsale Capital Group will post 21.1 EPS for the current year.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new stake in shares of Kinsale Capital Group in the 2nd quarter worth $10,035,000. Legal & General Group Plc bought a new position in Kinsale Capital Group during the second quarter valued at about $9,462,000. Public Employees Retirement System of Ohio acquired a new position in Kinsale Capital Group during the second quarter worth about $2,081,000. Virtu Financial LLC grew its holdings in Kinsale Capital Group by 175.2% during the fourth quarter. Virtu Financial LLC now owns 3,118 shares of the financial services provider’s stock worth $1,219,000 after acquiring an additional 1,985 shares during the period. Finally, Man Group plc bought a new stake in Kinsale Capital Group in the second quarter worth about $6,125,000. 85.36% of the stock is owned by institutional investors and hedge funds.

About Kinsale Capital Group

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.