Morgan Stanley Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by analysts at Morgan Stanley from $350.00 to $330.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 7.09% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. BMO Capital Markets lowered Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research report on Wednesday, February 25th. Cantor Fitzgerald dropped their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, Truist Financial decreased their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and a consensus target price of $390.18.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $308.16 on Thursday. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.02 and a beta of 0.95. The business has a 50 day moving average of $336.73 and a 200 day moving average of $370.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. Kinsale Capital Group has a 1-year low of $293.78 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period last year, the firm posted $3.71 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Kinsale Capital Group will post 20.58 earnings per share for the current fiscal year.

Insider Activity at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Several large investors have recently bought and sold shares of KNSL. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $25,000. Bayban bought a new position in Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. purchased a new position in Kinsale Capital Group during the fourth quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $29,000. Finally, Johnson Financial Group Inc. increased its stake in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

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.