Kinsale Capital Group (NYSE:KNSL) Given New $440.00 Price Target at Truist Financial

Kinsale Capital Group (NYSE:KNSL) had its price target lowered by investment analysts at Truist Financial from $600.00 to $440.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 20.43% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $434.00 to $544.00 in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $461.67.

Kinsale Capital Group Trading Down 2.5 %

Shares of NYSE:KNSL traded down $9.29 during midday trading on Monday, reaching $365.35. The company had a trading volume of 169,462 shares, compared to its average volume of 188,698. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group has a 1-year low of $297.33 and a 1-year high of $548.47. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 24.28 and a beta of 0.89. The company has a fifty day simple moving average of $491.62 and a two-hundred day simple moving average of $415.56.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. The business had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. Kinsale Capital Group’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. Research analysts predict that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Insider Transactions at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now directly owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Kinsale Capital Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock worth $700,127,000 after purchasing an additional 30,729 shares in the last quarter. Invesco Ltd. boosted its stake in Kinsale Capital Group by 15.4% in the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after purchasing an additional 92,496 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Kinsale Capital Group in the first quarter worth $196,358,000. DAVENPORT & Co LLC lifted its stake in shares of Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after acquiring an additional 198,129 shares during the period. Finally, Riverbridge Partners LLC lifted its stake in shares of Kinsale Capital Group by 25.4% during the first quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock valued at $163,543,000 after acquiring an additional 63,141 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

About Kinsale Capital Group

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.