BMO Capital Markets Initiates Coverage on Kinsale Capital Group (NYSE:KNSL)

Equities research analysts at BMO Capital Markets started coverage on shares of Kinsale Capital Group (NYSE:KNSLGet Rating) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “underperform” rating and a $230.00 price target on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential downside of 13.03% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of Kinsale Capital Group from $275.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Compass Point raised shares of Kinsale Capital Group from a “neutral” rating to a “buy” rating and set a $330.00 price objective on the stock in a report on Tuesday, December 20th. StockNews.com assumed coverage on shares of Kinsale Capital Group in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Truist Financial lifted their target price on shares of Kinsale Capital Group from $285.00 to $335.00 in a report on Monday, October 31st. Finally, Jefferies Financial Group began coverage on shares of Kinsale Capital Group in a report on Monday, December 12th. They issued a “hold” rating and a $295.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group has an average rating of “Hold” and a consensus target price of $308.00.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $264.47 on Thursday. The company’s fifty day moving average price is $283.90 and its 200 day moving average price is $274.90. Kinsale Capital Group has a 1 year low of $180.05 and a 1 year high of $334.99. The company has a market capitalization of $6.06 billion, a PE ratio of 43.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.18 and a current ratio of 0.18.

Kinsale Capital Group (NYSE:KNSLGet Rating) last issued its earnings results on Thursday, October 27th. The financial services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.22. Kinsale Capital Group had a net margin of 18.45% and a return on equity of 24.56%. The business had revenue of $216.96 million during the quarter, compared to analysts’ expectations of $214.02 million. On average, research analysts predict that Kinsale Capital Group will post 7.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 3,500 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $317.16, for a total transaction of $1,110,060.00. Following the completion of the transaction, the chief executive officer now directly owns 313,441 shares in the company, valued at approximately $99,410,947.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 3,500 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $317.16, for a total value of $1,110,060.00. Following the sale, the chief executive officer now directly owns 313,441 shares of the company’s stock, valued at $99,410,947.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Joseph Ritchie sold 738 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $314.35, for a total value of $231,990.30. Following the transaction, the director now directly owns 11,567 shares in the company, valued at $3,636,086.45. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinsale Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSL. US Bancorp DE grew its holdings in Kinsale Capital Group by 253.8% in the 3rd quarter. US Bancorp DE now owns 9,231 shares of the financial services provider’s stock valued at $2,358,000 after buying an additional 6,622 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at $74,000. Russell Investments Group Ltd. raised its position in Kinsale Capital Group by 181.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 44,498 shares of the financial services provider’s stock valued at $10,215,000 after purchasing an additional 28,678 shares during the last quarter. Park Avenue Securities LLC raised its position in Kinsale Capital Group by 21.0% in the 3rd quarter. Park Avenue Securities LLC now owns 3,135 shares of the financial services provider’s stock valued at $801,000 after purchasing an additional 544 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Kinsale Capital Group by 22.4% during the second quarter. Zions Bancorporation N.A. now owns 5,948 shares of the financial services provider’s stock worth $1,366,000 after acquiring an additional 1,090 shares during the last quarter. 85.97% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Analyst Recommendations for Kinsale Capital Group (NYSE:KNSL)

Receive News & Ratings for Kinsale Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinsale Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.