BMO Capital Markets Forecasts Strong Price Appreciation for Kinsale Capital Group (NYSE:KNSL) Stock

Kinsale Capital Group (NYSE:KNSL) had its target price boosted by equities research analysts at BMO Capital Markets from $445.00 to $461.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 7.61% from the company’s previous close.

KNSL has been the subject of several other reports. Jefferies Financial Group lifted their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reduced their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Truist Financial decreased their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $456.88.

Kinsale Capital Group Trading Up 1.8 %

Shares of NYSE:KNSL opened at $498.96 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $11.62 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.02 and a beta of 1.09. The business’s 50-day moving average is $459.56 and its 200 day moving average is $431.44. Kinsale Capital Group has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. The firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.31 earnings per share. On average, research analysts predict that Kinsale Capital Group will post 15.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of KNSL. Arete Wealth Advisors LLC grew its stake in Kinsale Capital Group by 13.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 1,093 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 130 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Kinsale Capital Group by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,444 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 74 shares in the last quarter. Synergy Financial Group LTD increased its holdings in shares of Kinsale Capital Group by 4.0% in the third quarter. Synergy Financial Group LTD now owns 2,448 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 95 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the last quarter. Finally, Barclays PLC lifted its position in Kinsale Capital Group by 34.4% during the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock worth $5,480,000 after buying an additional 3,014 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.