Kinsale Capital Group (NYSE:KNSL) Given New $264.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Kinsale Capital Group’s price target from $259 to $264 while maintaining a “neutral” rating, implying 21.44% downside from the prior close.
• Analyst sentiment remains cautious: one analyst rates the stock Buy, seven Hold, and two Sell, resulting in a consensus “Reduce” rating and an average price target of $362.56.
• Kinsale reported quarterly earnings of $5.54 per share, exceeding estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its price objective hoisted by stock analysts at Cantor Fitzgerald from $259.00 to $264.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Cantor Fitzgerald's target price points to a potential downside of 21.44% from the stock's previous close.

Several other equities analysts have also recently weighed in on KNSL. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wells Fargo & Company lifted their price objective on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Reduce" and an average target price of $362.56.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $336.06 on Wednesday. The company has a market cap of $7.66 billion, a P/E ratio of 13.62, a PEG ratio of 1.05 and a beta of 0.88. The company has a fifty day simple moving average of $363.29 and a 200 day simple moving average of $340.36. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a 12-month low of $287.20 and a 12-month high of $485.00.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business's quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm earned $4.78 earnings per share. Sell-side analysts predict that Kinsale Capital Group will post 21.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds have recently made changes to their positions in KNSL. Bayban purchased a new stake in Kinsale Capital Group during the fourth quarter worth about $25,000. Parallel Advisors LLC boosted its stake in Kinsale Capital Group by 185.7% in the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 78 shares during the last quarter. Western Wealth Management LLC purchased a new position in Kinsale Capital Group in the first quarter valued at about $60,000. Flputnam Investment Management Co. bought a new position in shares of Kinsale Capital Group during the 2nd quarter valued at approximately $101,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $109,000. 85.36% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.