Kinsale Capital Group (NYSE:KNSL) Earns Buy Rating from Analysts at Bank of America

Analysts at Bank of America began coverage on shares of Kinsale Capital Group (NYSE:KNSL - Get Free Report) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $543.00 price target on the financial services provider's stock. Bank of America's price target would indicate a potential upside of 17.64% from the company's previous close.

Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Truist Financial cut their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley boosted their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $491.88.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $461.57 on Friday. The stock has a fifty day moving average price of $464.62 and a 200-day moving average price of $461.11. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11. Kinsale Capital Group has a fifty-two week low of $366.92 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, beating analysts' consensus estimates of $3.15 by $0.56. The business had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. Kinsale Capital Group's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.50 earnings per share. As a group, equities analysts anticipate that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Insider Buying and Selling at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president now directly owns 6,646 shares in the company, valued at $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Kinsale Capital Group

Large investors have recently modified their holdings of the business. LPL Financial LLC grew its position in Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares during the period. California Public Employees Retirement System increased its position in Kinsale Capital Group by 11.8% during the fourth quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock worth $18,299,000 after purchasing an additional 4,146 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of Kinsale Capital Group by 206.3% during the 1st quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider's stock worth $893,000 after buying an additional 1,236 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Kinsale Capital Group in the first quarter valued at $441,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Kinsale Capital Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock valued at $70,907,000 after buying an additional 3,970 shares during the last quarter. Hedge funds and other 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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