Kinsale Capital Group (NYSE:KNSL) Downgraded by Wells Fargo & Company to Equal Weight

Key Points

• Wells Fargo downgraded Kinsale Capital Group (KNSL) from "overweight" to "equal weight" and set a $357 price target, implying roughly a 3.1% upside from the current price.
• Several other analysts (including Cantor Fitzgerald, BMO, JPMorgan and Jefferies) have cut ratings or price targets recently, leaving a MarketBeat consensus rating of "Hold" and a consensus price target of $395.64.
• Kinsale beat expectations in its latest quarter with $5.11 EPS vs. $4.70 est. and $466.7M revenue, while reporting a 27.5% net margin and 25.8% ROE despite a slight year‑over‑year revenue decline.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) was downgraded by equities research analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a research note issued to investors on Monday, MarketBeat reports. They currently have a $357.00 price target on the financial services provider's stock. Wells Fargo & Company's target price suggests a potential upside of 3.14% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald cut their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective for the company. in a research note on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Jefferies Financial Group cut Kinsale Capital Group from a "hold" rating to an "underperform" rating and decreased their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $395.64.

Kinsale Capital Group Price Performance

KNSL opened at $346.13 on Monday. The firm has a market cap of $8.01 billion, a PE ratio of 15.23, a P/E/G ratio of 1.13 and a beta of 1.08. The stock has a 50-day moving average price of $357.85 and a 200-day moving average price of $385.50. Kinsale Capital Group has a 1 year low of $321.97 and a 1 year 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.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $3.71 EPS. Sell-side analysts predict that Kinsale Capital Group will post 20.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kinsale Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bayban purchased a new stake in Kinsale Capital Group in the 4th quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $29,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth about $29,000. Finally, Johnson Financial Group Inc. grew its holdings 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 worth $32,000 after acquiring an additional 54 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

About Kinsale Capital Group

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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