Morgan Stanley Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $520.00

Kinsale Capital Group (NYSE:KNSL) had its price objective cut by research analysts at Morgan Stanley from $535.00 to $520.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 15.95% from the company’s current price.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Truist Financial decreased their price target on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research note on Monday, October 28th. Finally, Royal Bank of Canada decreased 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 note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $460.78.

Kinsale Capital Group Stock Down 5.9 %

NYSE KNSL opened at $448.46 on Friday. 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 company has a market capitalization of $10.44 billion, a P/E ratio of 25.57, a PEG ratio of 1.82 and a beta of 1.15. The company’s 50 day simple moving average is $461.29 and its 200 day simple moving average is $465.57. Kinsale Capital Group has a 12 month low of $355.12 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Equities research analysts expect that Kinsale Capital Group will post 15.67 earnings per share for the current fiscal 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction on 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 owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock worth $3,618,954. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Canal Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 10.5% in the fourth quarter. Canal Capital Management LLC now owns 7,818 shares of the financial services provider’s stock valued at $3,637,000 after purchasing an additional 745 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Kinsale Capital Group by 8.9% in the fourth quarter. Stifel Financial Corp now owns 18,245 shares of the financial services provider’s stock valued at $8,486,000 after purchasing an additional 1,485 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Kinsale Capital Group by 315.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,767 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 2,101 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at $7,642,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Kinsale Capital Group by 8.1% in the fourth quarter. MetLife Investment Management LLC now owns 13,441 shares of the financial services provider’s stock valued at $6,252,000 after purchasing an additional 1,006 shares during the last quarter. 85.36% of the stock is currently 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.