Compass Point Issues Positive Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Key Points

• Compass Point has raised its target price for Kinsale Capital Group from $432.00 to $490.00, indicating a potential upside of 3.68% from its previous closing price.
• Several firms, including Bank of America and Morgan Stanley, have given Kinsale Capital Group varying buy and hold ratings, with price targets ranging from $460.00 to $560.00.
• Kinsale Capital Group reported better-than-expected earnings of $4.78 per share, exceeding analysts' predictions and reflecting a 22.2% revenue increase compared to the same quarter last year.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its price objective lifted by Compass Point from $432.00 to $490.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Compass Point's price objective indicates a potential upside of 10.26% from the stock's current price.

A number of other research firms also recently weighed in on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. upped their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday. Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Morgan Stanley upped their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Truist Financial upped their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and a consensus target price of $506.44.

Kinsale Capital Group Trading Up 0.8%

NYSE KNSL traded up $3.70 during trading on Monday, hitting $444.39. The company had a trading volume of 189,843 shares, compared to its average volume of 209,349. The company's fifty day moving average is $472.87 and its 200-day moving average is $462.26. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.19. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a one year low of $405.00 and a one year high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The business had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same period in the previous year, the firm posted $3.75 EPS. The business's revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts predict that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Insider Activity

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.50% of the company's stock.

Institutional Trading of Kinsale Capital Group

Large investors have recently made changes to their positions in the stock. Key Financial Inc boosted its stake in shares of Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 41 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Kinsale Capital Group in the first quarter worth about $31,000. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group in the second quarter worth about $31,000. NBC Securities Inc. purchased a new stake in Kinsale Capital Group in the first quarter worth about $35,000. Finally, von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group during the first quarter valued at approximately $42,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.