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

Kinsale Capital Group (NYSE:KNSL) had its target price dropped by equities research analysts at Truist Financial from $500.00 to $480.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 14.59% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada dropped 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 report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price on the stock. Finally, Jefferies Financial Group increased their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $468.89.

Kinsale Capital Group Stock Up 0.4 %

Shares of KNSL stock traded up $1.79 during mid-day trading on Tuesday, reaching $418.88. 10,679 shares of the company were exchanged, compared to its average volume of 241,337. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group has a fifty-two week low of $355.12 and a fifty-two week high of $548.47. The business’s 50 day simple moving average is $474.44 and its 200 day simple moving average is $455.85. The company has a market capitalization of $9.75 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.16 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same quarter in the prior year, the firm earned $3.31 earnings per share. The company’s quarterly revenue was up 33.0% on a year-over-year basis. Research analysts predict that Kinsale Capital Group will post 15.61 earnings per share for the current year.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the transaction, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock valued at $3,618,954 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in shares of Kinsale Capital Group by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after acquiring an additional 6,331 shares during the period. State Street Corp increased its stake in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares during the last quarter. Geode Capital Management LLC lifted its stake in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares during the last quarter. Geneva Capital Management LLC boosted its stake in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after buying an additional 5,207 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its position in Kinsale Capital Group by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock valued at $107,687,000 after buying an additional 685 shares during the period. Institutional investors 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.