Cantor Fitzgerald Issues Pessimistic Forecast for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price objective dropped by Cantor Fitzgerald from $422.00 to $360.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 5.13% from the company’s previous close.

A number of other equities analysts have also commented on KNSL. Wells Fargo & Company started coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and set a $433.00 price target on shares of Kinsale Capital Group in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $467.00.

Kinsale Capital Group Price Performance

NYSE KNSL traded up $8.15 during trading on Tuesday, reaching $379.47. 80,070 shares of the company traded hands, compared to its average volume of 231,853. The stock’s 50 day moving average price is $394.96 and its two-hundred day moving average price is $415.35. Kinsale Capital Group has a 1-year low of $341.06 and a 1-year high of $512.76. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.08.

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. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The company had revenue of $483.27 million during the quarter, compared to analyst estimates of $467.66 million. During the same quarter last year, the business posted $4.62 earnings per share. As a group, analysts anticipate that Kinsale Capital Group will post 17.72 EPS for the current year.

Kinsale Capital Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Kinsale Capital Group

A number of large investors have recently bought and sold shares of KNSL. V Square Quantitative Management LLC acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $25,000. eCIO Inc. acquired a new position in Kinsale Capital Group during the 4th quarter worth approximately $29,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $29,000. Johnson Financial Group Inc. raised its holdings in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in Kinsale Capital Group during the third quarter worth $33,000. 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.