Truist Financial Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price
by Jessica Moore · The Cerbat GemKinsale Capital Group (NYSE:KNSL – Get Free Report) had its price objective decreased by analysts at Truist Financial from $450.00 to $405.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target suggests a potential upside of 17.01% from the company’s current price.
Several other brokerages also recently issued reports on KNSL. JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Friday, March 27th. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target for the company. in a research report on Wednesday, February 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. Finally, Cantor Fitzgerald cut their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $395.64.
Check Out Our Latest Research Report on Kinsale Capital Group
Kinsale Capital Group Trading Up 0.3%
Kinsale Capital Group stock opened at $346.13 on Monday. Kinsale Capital Group has a 52 week low of $321.97 and a 52 week high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.13 and a beta of 1.08. The company has a 50 day moving average price of $357.85 and a 200 day moving average price of $385.50.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $3.71 EPS. Research analysts forecast that Kinsale Capital Group will post 20.34 EPS for the current year.
Institutional Investors Weigh In On Kinsale Capital Group
Several institutional investors and hedge funds have recently modified their holdings of KNSL. JPMorgan Chase & Co. grew its position in Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Kinsale Capital Group by 17.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock valued at $9,569,000 after buying an additional 3,305 shares during the period. Leibman Financial Services Inc. lifted its stake in shares of Kinsale Capital Group by 109.9% in the fourth quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock valued at $3,691,000 after buying an additional 4,942 shares during the period. Ascent Group LLC grew its position in Kinsale Capital Group by 26.4% during the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock worth $6,867,000 after buying an additional 3,375 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Kinsale Capital Group by 492.8% during the third quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock valued at $6,125,000 after acquiring an additional 11,974 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.
About Kinsale Capital Group
Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.
The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.