Morgan Stanley Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Key Points

• Morgan Stanley has lowered its target price for Kinsale Capital Group from $525.00 to $500.00, suggesting a potential upside of 5.85% from the stock's previous close.
• Although five analysts rate Kinsale's stock as a Buy and seven as a Hold, the company maintains an average rating of "Hold" with a consensus target price of $503.30.
• Kinsale's stock recently traded down to $472.37, with a yearly price range between $405.00 and $531.79, and has a market cap of $11.01 billion.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its target price lowered by stock analysts at Morgan Stanley from $525.00 to $500.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's target price suggests a potential upside of 5.85% from the stock's previous close.

KNSL has been the subject of a number of other research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Kinsale Capital Group in a research note on Saturday, September 27th. Compass Point upped their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America started coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. boosted their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and a consensus target price of $503.30.

Kinsale Capital Group Price Performance

KNSL stock traded down $2.16 during trading on Tuesday, hitting $472.37. The stock had a trading volume of 101,224 shares, compared to its average volume of 208,460. The company's 50 day moving average price is $442.85 and its two-hundred day moving average price is $460.81. Kinsale Capital Group has a 1-year low of $405.00 and a 1-year high of $531.79. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same quarter in the prior year, the company posted $3.75 EPS. The company's quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts forecast that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanders Morris Harris LLC purchased a new position in Kinsale Capital Group in the 3rd quarter worth approximately $1,212,000. Oak Thistle LLC purchased a new position in Kinsale Capital Group in the 3rd quarter worth approximately $380,000. GAMMA Investing LLC boosted its stake in shares of Kinsale Capital Group by 6.7% during the 3rd quarter. GAMMA Investing LLC now owns 765 shares of the financial services provider's stock valued at $325,000 after buying an additional 48 shares during the last quarter. American National Bank of Texas purchased a new position in shares of Kinsale Capital Group during the 3rd quarter valued at approximately $321,000. Finally, Corient Private Wealth LLC boosted its stake in shares of Kinsale Capital Group by 8.3% during the 2nd quarter. Corient Private Wealth LLC now owns 1,246 shares of the financial services provider's stock valued at $603,000 after buying an additional 95 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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