Kinsale Capital Group (NYSE:KNSL) Raised to “Hold” at Cantor Fitzgerald

Kinsale Capital Group (NYSE:KNSL) was upgraded by Cantor Fitzgerald to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, June 22nd. Bank of America began coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They set a “buy” rating and a $543.00 price objective on the stock. BMO Capital Markets upped their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the company a “market perform” rating in a research report on Tuesday, July 29th. Morgan Stanley upped their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price target on Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $505.80.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $453.98 on Wednesday. The company’s 50-day moving average is $467.69 and its 200 day moving average is $462.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $10.58 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. Kinsale Capital Group has a fifty-two week low of $405.00 and a fifty-two week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.75 EPS. On average, equities research analysts forecast that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares of the company’s stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Trading of Kinsale Capital Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Key Financial Inc raised its holdings in Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Kinsale Capital Group during the first quarter valued at $31,000. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group during the second quarter valued at $31,000. NBC Securities Inc. bought a new position in shares of Kinsale Capital Group during the first quarter valued at $35,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Kinsale Capital Group during the second quarter valued at $38,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.