Kinsale Capital Group (NYSE:KNSL) Rating Increased to Hold at Wall Street Zen

Kinsale Capital Group (NYSE:KNSL) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

KNSL has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 8th. JPMorgan Chase & Co. decreased their target price on shares of 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. Morgan Stanley lowered their target price on shares of Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. TD Cowen reduced their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $483.78.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $390.91 on Friday. The firm has a 50 day simple moving average of $408.53 and a 200-day simple moving average of $440.58. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group has a 1-year low of $349.00 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, beating analysts’ consensus estimates of $4.79 by $0.42. The firm had revenue of $497.51 million for the quarter, compared to analysts’ expectations of $446.00 million. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.20 earnings per share. On average, analysts expect that Kinsale Capital Group will post 17.72 EPS for the current year.

Kinsale Capital Group announced that its board has initiated a share buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Kinsale Capital Group

Institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC raised its holdings in shares of Kinsale Capital Group by 145.3% in the 2nd quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock valued at $2,743,000 after purchasing an additional 3,357 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Kinsale Capital Group by 52.3% during the first quarter. Focus Partners Wealth now owns 18,324 shares of the financial services provider’s stock worth $8,918,000 after purchasing an additional 6,293 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kinsale Capital Group by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock valued at $79,659,000 after buying an additional 3,448 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Kinsale Capital Group by 337.5% in the first quarter. The Manufacturers Life Insurance Company now owns 80,482 shares of the financial services provider’s stock valued at $39,171,000 after buying an additional 62,088 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in Kinsale Capital Group by 110.2% during the 1st quarter. Inspire Investing LLC now owns 9,180 shares of the financial services provider’s stock worth $4,468,000 after buying an additional 4,812 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Company Profile

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.