Kinsale Capital Group (NASDAQ:KNSL) Stock Rating Lowered by Zacks Investment Research

Kinsale Capital Group (NASDAQ:KNSLGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports. They presently have a $246.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.30% from the company’s current price.

According to Zacks, “Kinsale Capital continues to benefit from dislocation within the broader property/casualty insurance industry, rate increases and premium growth. Across the E&S market, its products are exposed to those business lines, which have relatively lower risks. Kinsale Capital boasts the lowest combined ratio among its specialty insurer peers while achieving the highest growth and targets the same in mid-80s range over the long term. It has various reinsurance contracts to limit exposure to potential losses apart from arranging for additional capacity for growth. Technological advancements have also been lowering the expense ratios for quite some time. It also engages in effective deployment of capital. Shares have outperformed its industry in the past year. However, high costs put pressure on margin expansion. High debt levels pose financial risks.”

Separately, StockNews.com began coverage on shares of Kinsale Capital Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $232.00.

Shares of NASDAQ:KNSL traded down $2.93 on Tuesday, hitting $231.42. 479 shares of the company were exchanged, compared to its average volume of 111,230. Kinsale Capital Group has a 1-year low of $153.12 and a 1-year high of $245.17. The stock’s 50 day moving average price is $221.34 and its 200 day moving average price is $208.41. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $5.29 billion, a P/E ratio of 34.96 and a beta of 0.97.

Kinsale Capital Group (NASDAQ:KNSLGet Rating) last posted its quarterly earnings data on Thursday, February 17th. The financial services provider reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.36. Kinsale Capital Group had a net margin of 23.86% and a return on equity of 20.56%. The business had revenue of $183.60 million during the quarter, compared to the consensus estimate of $165.73 million. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts predict that Kinsale Capital Group will post 6.62 EPS for the current fiscal year.

In related news, CFO Bryan P. Petrucelli sold 4,649 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $198.82, for a total transaction of $924,314.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its stake in Kinsale Capital Group by 0.4% during the 4th quarter. Amalgamated Bank now owns 15,290 shares of the financial services provider’s stock worth $3,637,000 after buying an additional 63 shares during the period. Fifth Third Bancorp boosted its stake in Kinsale Capital Group by 140.4% during the 4th quarter. Fifth Third Bancorp now owns 113 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Kinsale Capital Group by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 17,797 shares of the financial services provider’s stock worth $4,234,000 after acquiring an additional 96 shares during the period. Pearl River Capital LLC increased its holdings in Kinsale Capital Group by 6.0% during the 3rd quarter. Pearl River Capital LLC now owns 1,714 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 97 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in Kinsale Capital Group by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

About Kinsale Capital Group (Get Rating)

Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.

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