Kinsale Capital Group (NYSE:KNSL) Given New $348.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo lowered Kinsale Capital Group’s price target from $377 to $348 while maintaining an “equal weight” rating, implying 2.32% upside from the prior close.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a consensus price target of $357.67, with seven Holds, two Sells, and one Buy.
• Kinsale reported quarterly earnings of $5.54 per share, beating estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million; institutional investors own 85.36% of the stock.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $377.00 to $348.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 2.32% from the company's previous close.

KNSL has been the topic of a number of other reports. Cantor Fitzgerald increased their target price on Kinsale Capital Group from $259.00 to $264.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 7th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Morgan Stanley lowered their price target on Kinsale Capital Group from $390.00 to $350.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 6th. Weiss Ratings upgraded shares of Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $390.00 to $375.00 and set a "neutral" rating on the stock in a research note on Friday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $357.67.

Kinsale Capital Group Stock Up 0.9%

Shares of KNSL traded up $3.13 during mid-day trading on Monday, reaching $340.11. The company had a trading volume of 15,532 shares, compared to its average volume of 269,213. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. The firm has a 50-day moving average price of $361.64 and a 200 day moving average price of $340.53. Kinsale Capital Group has a 52 week low of $287.20 and a 52 week high of $477.02.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted 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 company had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. The firm's revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $4.78 EPS. On average, sell-side analysts forecast that Kinsale Capital Group will post 21.14 EPS for the current year.

Institutional Trading of Kinsale Capital Group

Several hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY purchased a new stake in Kinsale Capital Group during the 2nd quarter valued at $878,600,000. BlackRock Inc. bought a new stake in Kinsale Capital Group in the second quarter worth $671,457,000. Bank of America Corp DE purchased a new position in Kinsale Capital Group during the second quarter worth $69,470,000. Bank of New York Mellon Corp purchased a new position in Kinsale Capital Group during the second quarter worth $45,595,000. Finally, Turtle Creek Asset Management Inc. boosted its stake in Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider's stock worth $140,506,000 after buying an additional 132,576 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

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.

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