Truist Financial Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $480.00

Kinsale Capital Group (NYSE:KNSL) had its price target decreased by equities research analysts at Truist Financial from $500.00 to $480.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 10.45% from the stock’s current price.

KNSL has been the topic of several other research reports. JPMorgan Chase & Co. reduced 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 report on Friday, January 3rd. Royal Bank of Canada reduced their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. 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 report on Monday, October 28th. Jefferies Financial Group lifted their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley assumed coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $468.89.

Kinsale Capital Group Stock Up 1.1 %

Shares of KNSL stock opened at $434.58 on Tuesday. The company’s fifty day simple moving average is $474.12 and its two-hundred day simple moving average is $456.01. Kinsale Capital Group has a 52 week low of $355.12 and a 52 week high of $548.47. The stock has a market cap of $10.12 billion, a P/E ratio of 24.78, a PEG ratio of 2.16 and a beta of 1.16. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13.

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

Insider Buying and Selling

In related news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,235 shares of company stock valued at $3,618,954. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in Kinsale Capital Group during the 3rd quarter worth about $26,000. UMB Bank n.a. lifted its position in shares of Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the period. Signaturefd LLC boosted its stake in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares during the period. Finally, American National Bank & Trust bought a new position in Kinsale Capital Group in the third quarter worth approximately $55,000. 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.