JPMorgan Chase & Co. Cuts Kinsale Capital Group (NYSE:KNSL) Price Target to $410.00

Kinsale Capital Group (NYSE:KNSL) had its price target lowered by research analysts at JPMorgan Chase & Co. from $450.00 to $410.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 9.45% from the stock’s current price.

KNSL has been the subject of several other reports. Morgan Stanley reissued an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 target price for the company. TD Cowen lowered their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $433.00 target price on shares of Kinsale Capital Group in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $453.36.

Kinsale Capital Group Trading Up 0.3%

Shares of Kinsale Capital Group stock traded up $1.18 during trading on Monday, hitting $374.59. The stock had a trading volume of 123,517 shares, compared to its average volume of 248,087. Kinsale Capital Group has a 1 year low of $341.06 and a 1 year high of $512.76. The stock has a 50 day simple moving average of $394.47 and a 200 day simple moving average of $413.41. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $8.71 billion, a PE ratio of 17.31, a P/E/G ratio of 1.54 and a beta of 0.99.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the previous year, the company posted $4.62 EPS. On average, research analysts expect that Kinsale Capital Group will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group announced that its board has authorized a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

A number of institutional investors have recently modified their holdings of KNSL. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. acquired a new position in Kinsale Capital Group during the 4th quarter worth $29,000. International Assets Investment Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter valued at about $29,000. Johnson Financial Group Inc. boosted its holdings in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Kinsale Capital Group in the third quarter valued at about $33,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

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.