Cantor Fitzgerald Lowers Kinsale Capital Group (NYSE:KNSL) Price Target to $280.00

Kinsale Capital Group (NYSE:KNSL) had its target price cut by equities researchers at Cantor Fitzgerald from $360.00 to $280.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 21.25% from the company’s previous close.

KNSL has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target 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. Truist Financial lowered their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Wells Fargo & Company began coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 target price on the stock. Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their price target for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $405.45.

Kinsale Capital Group Trading Down 0.2%

Shares of KNSL stock traded down $0.87 on Thursday, hitting $355.55. The company had a trading volume of 8,036 shares, compared to its average volume of 244,776. Kinsale Capital Group has a twelve month low of $321.97 and a twelve month high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $8.23 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.13 and a beta of 1.08. The stock’s 50-day moving average is $368.20 and its two-hundred day moving average is $392.93.

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

Kinsale Capital Group announced that its board has authorized a stock repurchase plan on Thursday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KNSL. Bamco Inc. NY boosted its position in shares of Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after purchasing an additional 24,796 shares in the last quarter. Capital World Investors increased its position in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. increased its position in Kinsale Capital Group by 19.6% in the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after buying an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC raised its stake in Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after buying an additional 10,137 shares during the period. 85.36% of the stock is owned by institutional investors.

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.