Kinsale Capital Group (NYSE:KNSL) Given New $366.00 Price Target at Wells Fargo & Company

Kinsale Capital Group (NYSE:KNSL) had its target price upped by equities research analysts at Wells Fargo & Company from $357.00 to $366.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.85% from the company’s previous close.

Several other research analysts have also recently issued reports on KNSL. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Cantor Fitzgerald cut their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Truist Financial decreased their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $375.80.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock traded down $6.59 on Thursday, reaching $339.37. 110,144 shares of the stock were exchanged, compared to its average volume of 282,571. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group has a twelve month low of $287.20 and a twelve month high of $512.76. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.13 and a beta of 0.90. The business has a 50 day moving average price of $314.52 and a two-hundred day moving average price of $353.84.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The business 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 business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.71 EPS. Analysts anticipate that Kinsale Capital Group will post 20.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the company. Bamco Inc. NY increased its position in Kinsale Capital Group by 1.4% during the third 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 during the last quarter. Capital World Investors grew its stake in shares of 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 during the period. First Manhattan CO. LLC. increased its holdings in shares of Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after buying an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC raised its position in shares of 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 valued at $208,443,000 after buying an additional 10,137 shares during the period. Hedge funds and other 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.