Morgan Stanley Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by equities research analysts at Morgan Stanley from $535.00 to $520.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 15.61% from the company’s previous close.

KNSL has been the topic of a number of other research reports. Truist Financial dropped their price target on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. BMO Capital Markets boosted their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $460.78.

Kinsale Capital Group Stock Down 7.7 %

Shares of NYSE KNSL opened at $449.77 on Friday. The firm has a 50 day moving average price of $459.56 and a 200 day moving average price of $465.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $10.47 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a 52-week low of $355.12 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Analysts expect that Kinsale Capital Group will post 15.67 EPS for the current year.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently made changes to their positions in KNSL. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Kinsale Capital Group in the 4th quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at $31,000. Larson Financial Group LLC raised its position in shares of Kinsale Capital Group by 7,400.0% in the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Allworth Financial LP lifted its stake in shares of Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after buying an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $46,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.