Bank of America Begins Coverage on Kinsale Capital Group (NYSE:KNSL)

Stock analysts at Bank of America started coverage on shares of Kinsale Capital Group (NYSE:KNSL - Get Free Report) in a report issued on Friday, MarketBeat.com 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 objective would suggest a potential upside of 13.25% from the company's current price.

A number of other research firms have also recently weighed in on KNSL. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Wall Street Zen cut shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Morgan Stanley raised their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $491.88.

Kinsale Capital Group Stock Up 0.7%

Kinsale Capital Group stock traded up $3.39 during midday trading on Friday, hitting $479.46. 188,319 shares of the company's stock were exchanged, compared to its average volume of 175,903. 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 12 month low of $366.92 and a 12 month high of $531.79. The firm has a 50-day moving average of $464.38 and a two-hundred day moving average of $460.11. The company has a market cap of $11.18 billion, a PE ratio of 27.59, a P/E/G ratio of 1.80 and a beta of 1.20.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently bought and sold shares of KNSL. GAMMA Investing LLC lifted its stake in shares of Kinsale Capital Group by 59,220.7% in the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Kinsale Capital Group in the 1st quarter valued at $125,003,000. Norges Bank acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $89,200,000. Alliancebernstein L.P. lifted its stake in shares of Kinsale Capital Group by 486.3% in the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock valued at $99,559,000 after purchasing an additional 177,540 shares during the period. Finally, First Manhattan CO. LLC. lifted its stake in shares of Kinsale Capital Group by 401.4% in the 1st quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider's stock valued at $97,961,000 after purchasing an additional 161,132 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.