JPMorgan Chase & Co. Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $415.00 to $412.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.81% from the company’s current price.

Several other equities research analysts have also recently weighed in on KNSL. Jefferies Financial Group upped their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Truist Financial reduced their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $471.11.

Kinsale Capital Group Trading Down 5.7 %

Shares of KNSL opened at $428.32 on Friday. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group has a 1-year low of $351.30 and a 1-year high of $548.47. The company has a 50-day moving average of $475.60 and a 200 day moving average of $453.66.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the company posted $3.31 earnings per share. On average, research analysts expect that Kinsale Capital Group will post 15.61 EPS for the current year.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in Kinsale Capital Group during the 3rd quarter valued at about $26,000. UMB Bank n.a. increased its holdings in Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Signaturefd LLC raised its position in Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Kinsale Capital Group by 225.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 79 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at $55,000. 85.36% of the stock is owned by institutional investors and hedge funds.

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.