Kinsale Capital Group (NYSE:KNSL) Price Target Lowered to $375.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target on Kinsale from $385 to $375 and kept a "sector perform" rating, implying roughly a 12.6% upside from the then-current share price.
• Multiple other firms have trimmed targets or downgraded KNSL (Jefferies and BMO to "underperform"; JPMorgan and Truist cut targets), leaving a MarketBeat consensus rating of "Hold" with a $392 consensus target.
• Shares slid about 3.5% to $333.01 on the news, even though Kinsale posted a quarterly EPS beat ($5.11 vs. $4.70) and strong margins; the stock trades at a PE near 14.7 with a market cap around $7.7 billion.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its target price cut by equities researchers at Royal Bank Of Canada from $385.00 to $375.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the financial services provider's stock. Royal Bank Of Canada's target price would indicate a potential upside of 12.61% from the company's current price.

KNSL has been the subject of several other reports. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and decreased their target price for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price target on the stock. in a report on Wednesday, February 25th. Truist Financial cut their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday. Wall Street Zen cut shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a report on Saturday. Finally, JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and a consensus target price of $392.00.

Kinsale Capital Group Stock Down 3.5%

Shares of NYSE:KNSL traded down $12.08 during midday trading on Monday, hitting $333.01. 88,844 shares of the company's stock were exchanged, compared to its average volume of 247,370. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a 50 day moving average price of $357.85 and a 200-day moving average price of $385.50. The company has a market cap of $7.71 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. Kinsale Capital Group has a 12 month low of $321.97 and a 12 month high of $512.76.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million during the quarter, compared to the consensus estimate 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 firm posted $3.71 earnings per share. On average, sell-side analysts anticipate that Kinsale Capital Group will post 20.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $25,000. Bayban purchased a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group in the fourth quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. lifted its stake in Kinsale Capital Group by 257.1% in the third 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. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

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.

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