Kinsale Capital Group (NYSE:KNSL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Kinsale Capital Group from a “sell” to a “hold” rating, reflecting a slightly less negative view on the insurer.
• Despite the upgrade, broader analyst sentiment remains cautious: the stock now has a consensus “Reduce” rating with an average price target of $374.90, after several firms recently trimmed targets or downgraded the shares.
• Kinsale reported strong quarterly earnings of $5.11 per share versus $4.70 expected and revenue of $466.71 million versus $410.25 million expected, even as the stock traded around $308.19 and remained well below its 52-week high.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other research firms also recently weighed in on KNSL. Royal Bank Of Canada cut their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a report on Monday, April 27th. Wells Fargo & Company downgraded Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $420.00 to $357.00 in a research report on Monday, April 27th. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Weiss Ratings lowered Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Finally, Truist Financial reduced their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $374.90.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $308.19 on Friday. Kinsale Capital Group has a one year low of $287.20 and a one 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. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.00 and a beta of 0.91. The firm has a 50 day simple moving average of $320.21 and a 200 day simple moving average of $358.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results 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 firm had revenue of $466.71 million for the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company's revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.71 earnings per share. Research analysts predict that Kinsale Capital Group will post 20.65 earnings per share for the current fiscal year.

Insider Activity at Kinsale Capital Group

In related news, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Advisory LLC increased its position in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock valued at $399,000 after purchasing an additional 23 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of Kinsale Capital Group by 3.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider's stock worth $339,000 after purchasing an additional 28 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock worth $77,000 after purchasing an additional 28 shares during the period. Signaturefd LLC boosted its stake in shares of Kinsale Capital Group by 39.0% in the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Kinsale Capital Group by 5.3% in the 4th quarter. CWM LLC now owns 592 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 30 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

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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