Royal Bank of Canada Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $475.00

Kinsale Capital Group (NYSE:KNSL) had its target price decreased by investment analysts at Royal Bank of Canada from $480.00 to $475.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 7.23% from the company’s previous close.

A number of other brokerages have also recently weighed in on KNSL. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They set a “market perform” rating for the company. Jefferies Financial Group lifted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Wolfe Research raised shares of 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 note on Monday. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Kinsale Capital Group has an average rating of “Hold” and an average target price of $455.88.

Kinsale Capital Group Stock Performance

NYSE KNSL traded up $8.83 during trading hours on Monday, hitting $442.98. The company had a trading volume of 76,768 shares, compared to its average volume of 176,333. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13. Kinsale Capital Group has a 1-year low of $325.01 and a 1-year high of $548.47. The company has a market cap of $10.32 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08. The business has a 50 day moving average of $467.94 and a 200-day moving average of $427.63.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The firm had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the company posted $3.31 earnings per share. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, equities research analysts expect that Kinsale Capital Group will post 15.05 EPS for the current year.

Institutional Trading of Kinsale Capital Group

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Kinsale Capital Group by 7.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,056 shares of the financial services provider’s stock worth $1,079,000 after purchasing an additional 150 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Kinsale Capital Group in the 1st quarter valued at approximately $266,000. Diversified Trust Co increased its stake in Kinsale Capital Group by 15.1% in the 1st quarter. Diversified Trust Co now owns 3,107 shares of the financial services provider’s stock valued at $1,630,000 after buying an additional 408 shares during the period. Congress Wealth Management LLC DE grew its position in Kinsale Capital Group by 21.1% in the first quarter. Congress Wealth Management LLC DE now owns 5,883 shares of the financial services provider’s stock worth $3,087,000 after acquiring an additional 1,025 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in Kinsale Capital Group by 3.8% in the first quarter. State of Michigan Retirement System now owns 5,445 shares of the financial services provider’s stock worth $2,857,000 after acquiring an additional 200 shares in the last quarter. 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.