Kinsale Capital Group (NYSE:KNSL) Stock Rating Lowered by Wolfe Research

Kinsale Capital Group (NYSE:KNSL) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Monday, Marketbeat Ratings reports.

Other analysts have also recently issued research reports about the company. TD Cowen assumed coverage on Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 target price on the stock. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Royal Bank of Canada lifted their price objective on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Truist Financial increased their target price on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $443.38.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $464.53 on Monday. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $444.83 and a 200 day moving average price of $436.64.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. During the same quarter in the prior year, the business posted $2.88 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Research analysts predict that Kinsale Capital Group will post 15.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNSL. Cim LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $1,934,000. Axiom Investors LLC DE lifted its stake in shares of Kinsale Capital Group by 116.3% in the fourth quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock valued at $14,781,000 after purchasing an additional 23,728 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Kinsale Capital Group by 113.0% in the first quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock valued at $2,148,000 after purchasing an additional 2,172 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Kinsale Capital Group by 129.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock worth $14,814,000 after buying an additional 24,992 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Kinsale Capital Group by 249.2% during the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 3,818 shares during the period. Institutional investors and hedge funds 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.