JPMorgan Chase & Co. Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $375.00

Key Points

• JPMorgan lowered Kinsale Capital Group’s price target from $390 to $375 while maintaining a neutral rating, implying approximately 11.25% upside from the prior close.
• Analyst sentiment remains cautious: Kinsale has one Buy, seven Hold, and two Sell ratings, with an average rating of “Reduce” and a consensus price target of $360.89.
• KNSL shares fell 0.8% to $337.09, despite the company reporting quarterly EPS of $5.54—beating estimates—and revenue growth of 16.8% year over year.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $390.00 to $375.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 11.25% from the company's previous close.

Several other research firms have also commented on KNSL. Cantor Fitzgerald boosted their price target on Kinsale Capital Group from $259.00 to $264.00 and gave the stock a "neutral" rating in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of Kinsale Capital Group from $390.00 to $350.00 and set an "equal weight" rating for the company in a research report on Tuesday. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Weiss Ratings raised shares of Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped 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. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $360.89.

Kinsale Capital Group Stock Down 0.8%

NYSE KNSL traded down $2.56 during trading hours on Friday, hitting $337.09. The company had a trading volume of 293,366 shares, compared to its average volume of 270,090. Kinsale Capital Group has a fifty-two week low of $287.20 and a fifty-two week high of $478.71. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.04 and a beta of 0.88. 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 firm's 50 day moving average is $362.05 and its 200 day moving average is $340.46.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $548.52 million for the quarter, compared to analysts' expectations of $445.13 million. During the same quarter in the previous year, the firm posted $4.78 earnings per share. The firm's quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts anticipate that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bayban purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $25,000. Parallel Advisors LLC increased its stake in shares of Kinsale Capital Group by 185.7% in the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider's stock worth $41,000 after buying an additional 78 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Kinsale Capital Group in the first quarter valued at $60,000. Flputnam Investment Management Co. acquired a new stake in Kinsale Capital Group in the second quarter valued at $101,000. Finally, Avalon Trust Co bought a new position in Kinsale Capital Group during the 2nd quarter valued at $115,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.

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