Truist Financial Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Key Points

• Truist cut its price target on Kinsale from $450 to $405 while maintaining a buy rating, implying roughly a 17% upside from the prior close.
• Multiple firms have trimmed targets and ratings recently—Morgan Stanley, JPMorgan, BMO, Jefferies and Wells Fargo among them—leaving an average analyst rating of Hold and an average target of $395.64.
• Despite the downgrades, Kinsale beat quarterly expectations with EPS of $5.11 (vs. $4.70 est.) and revenue of $466.7M (vs. $410.3M est.), and posted strong profitability (ROE ~25.8%, net margin ~27.5%).

Kinsale Capital Group (NYSE:KNSL - Get Free Report) had its target price cut by equities research analysts at Truist Financial from $450.00 to $405.00 in a report released on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Truist Financial's price objective suggests a potential upside of 17.01% from the stock's previous close.

A number of other research analysts have also issued reports on KNSL. Morgan Stanley reissued an "equal weight" rating and set a $350.00 target price (down from $450.00) on shares of Kinsale Capital Group in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. BMO Capital Markets cut Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price target for the company. in a research note on Wednesday, February 25th. Jefferies Financial Group lowered Kinsale Capital Group from a "hold" rating to an "underperform" rating and lowered their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Finally, Wells Fargo & Company cut their price objective on shares of Kinsale Capital Group from $447.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $395.64.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $346.13 on Monday. The company has a market cap of $8.01 billion, a P/E ratio of 15.23, a PEG ratio of 1.13 and a beta of 1.08. The stock has a fifty day moving average price of $357.85 and a 200 day moving average price of $385.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $466.71 million for the quarter, compared to analysts' expectations of $410.25 million. During the same period last year, the business posted $3.71 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts forecast that Kinsale Capital Group will post 20.34 earnings per share for the current year.

Hedge Funds Weigh In On Kinsale Capital Group

Large investors have recently made changes to their positions in the business. Bamco Inc. NY lifted its stake in Kinsale Capital Group by 1.4% during the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider's stock valued at $760,616,000 after purchasing an additional 24,796 shares during the last quarter. Capital World Investors increased its holdings in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock valued at $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. lifted its position in shares of Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock valued at $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $229,653,000. Finally, DAVENPORT & Co LLC boosted its stake in shares of Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider's stock worth $208,443,000 after acquiring an additional 10,137 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

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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