Kinsale Capital Group, Inc. (NYSE:KNSL) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Analysts have a consensus “Reduce” rating on Kinsale Capital Group, with three sell ratings, six holds and one buy. The average 12-month price target is $362.11, below the stock’s reported opening price of $367.65.
• Kinsale posted a strong quarterly performance, reporting EPS of $5.54 versus the $5.11 consensus and revenue of $548.52 million, up 16.8% year over year and well above expectations.
• Institutional investors own 85.36% of the company, while insider ownership stands at 5.60%; recent insider activity included a sale by Salmaan Allibhai and a purchase by Chief Accounting Officer Christopher Tangard.

Shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) have been assigned an average rating of "Reduce" from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $362.1111.

Several equities research analysts have weighed in on KNSL shares. Wells Fargo & Company raised their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Morgan Stanley lowered 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 report on Thursday, May 21st. Finally, Weiss Ratings downgraded Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 26th.

Insider Transactions at Kinsale Capital Group

In related news, 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 sale, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher R. Tangard bought 330 shares of the company's stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their position. The SEC filing for this purchase provides additional information. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSL. Bayban acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth about $29,000. Johnson Financial Group Inc. grew its stake in Kinsale Capital Group by 257.1% during the 3rd 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 last quarter. Finally, Larson Financial Group LLC grew its stake in Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $367.65 on Tuesday. The company has a market capitalization of $8.38 billion, a PE ratio of 14.90, a P/E/G ratio of 1.18 and a beta of 0.89. The company has a 50-day simple moving average of $333.41 and a two-hundred day simple moving average of $346.58. Kinsale Capital Group has a one year low of $287.20 and a one year high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $548.52 million for the quarter, compared to analysts' expectations of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company's revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $4.78 EPS. Research analysts expect that Kinsale Capital Group will post 21.1 EPS for the current fiscal year.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source