JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Kinsale Capital Group (NYSE:KNSL) Stock

Key Points

• JPMorgan raised its price target on Kinsale Capital Group from $380 to $390, keeping a neutral rating. The new target implies about 11.4% upside from the previous close.
• Analyst sentiment remains cautious overall: the stock has one Buy, seven Holds, and three Sells, with a consensus rating of Reduce and an average price target of $373.80.
• Kinsale shares rose 1.8% to $350.12 after reporting strong quarterly results, including $5.11 EPS versus the $4.70 estimate and revenue of $466.71 million above expectations.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $380.00 to $390.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.39% from the stock's previous close.

Other analysts also recently issued reports about the company. Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. Cantor Fitzgerald cut their price target on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Morgan Stanley reduced their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. Weiss Ratings downgraded Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, June 26th. Finally, TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Kinsale Capital Group presently has an average rating of "Reduce" and a consensus price target of $373.80.

Kinsale Capital Group Stock Up 1.8%

Shares of Kinsale Capital Group stock traded up $6.13 during trading hours on Monday, hitting $350.12. The company had a trading volume of 53,257 shares, compared to its average volume of 281,114. The company's 50-day moving average is $317.62 and its two-hundred day moving average is $350.92. Kinsale Capital Group has a twelve month low of $287.20 and a twelve month high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $8.07 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period last year, the business earned $3.71 EPS. Kinsale Capital Group's revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that Kinsale Capital Group will post 20.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group in the 4th quarter worth $25,000. Bayban acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth about $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group during the fourth quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter worth about $29,000. Finally, Johnson Financial Group Inc. lifted its position in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 54 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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