JPMorgan Chase & Co. Issues Positive Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target for Kinsale Capital Group from $440 to $460, maintaining a "neutral" rating, indicating a potential downside of 3.38% from the stock’s previous close.
• Analysts from Morgan Stanley and Truist Financial have given Kinsale Capital Group higher price targets of $525 and $560, respectively, with ratings of "overweight" and "buy."
• Kinsale Capital reported a 22.2% year-over-year revenue increase in its latest quarter, generating $458.70 million, and it exceeded earnings expectations with an EPS of $4.78.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $440.00 to $460.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 3.38% from the stock's previous close.

Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $506.88.

Kinsale Capital Group Trading Down 0.3%

NYSE:KNSL traded down $1.24 on Monday, hitting $476.11. 51,364 shares of the stock were exchanged, compared to its average volume of 207,644. The stock has a market cap of $11.10 billion, a PE ratio of 24.94, a PEG ratio of 1.76 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. The stock has a fifty day moving average of $474.09 and a 200-day moving average of $461.93. Kinsale Capital Group has a fifty-two week low of $405.00 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same quarter in the prior year, the business posted $3.75 earnings per share. Kinsale Capital Group's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts expect that Kinsale Capital Group will post 17.72 earnings per share for the current fiscal year.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. Cambridge Investment Research Advisors Inc. increased its holdings in Kinsale Capital Group by 10.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after purchasing an additional 254 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Kinsale Capital Group by 111.5% in the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after acquiring an additional 2,650 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Kinsale Capital Group by 43.4% in the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after acquiring an additional 1,111 shares in the last quarter. Artemis Investment Management LLP grew its holdings in shares of Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after acquiring an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in shares of Kinsale Capital Group in the 1st quarter valued at about $270,000. Institutional investors own 85.36% of the company's stock.

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.

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