Kinsale Capital Group (NYSE:KNSL) Coverage Initiated at Wolfe Research

Posted by Defense World Staff on Sep 23rd, 2023

Equities research analysts at Wolfe Research began coverage on shares of Kinsale Capital Group (NYSE:KNSL – Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $521.00 price target on the financial services provider’s stock. Wolfe Research’s price target would indicate a potential upside of 22.44% from the stock’s previous close.

KNSL has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on Kinsale Capital Group from $415.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, September 13th. Jefferies Financial Group boosted their price target on Kinsale Capital Group from $370.00 to $396.00 and gave the company a “hold” rating in a report on Thursday, September 7th. JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $300.00 to $340.00 in a report on Thursday, July 6th. StockNews.com started coverage on Kinsale Capital Group in a report on Wednesday, August 23rd. They issued a “hold” rating for the company. Finally, Truist Financial boosted their price target on Kinsale Capital Group from $400.00 to $450.00 and gave the company a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $420.29.

Read Our Latest Report on KNSL

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $425.50 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.15 and a current ratio of 0.15. Kinsale Capital Group has a fifty-two week low of $240.35 and a fifty-two week high of $428.68. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 43.20 and a beta of 0.90. The stock’s 50-day simple moving average is $388.91 and its 200-day simple moving average is $351.29.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last released its earnings results on Thursday, July 27th. The financial services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.40. Kinsale Capital Group had a return on equity of 29.11% and a net margin of 22.60%. The firm had revenue of $295.77 million during the quarter, compared to the consensus estimate of $282.01 million. During the same quarter in the previous year, the company posted $1.92 earnings per share. As a group, equities analysts forecast that Kinsale Capital Group will post 11.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $376.82, for a total value of $1,507,280.00. Following the completion of the sale, the chief executive officer now directly owns 307,117 shares in the company, valued at $115,727,827.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $376.82, for a total transaction of $1,507,280.00. Following the completion of the sale, the chief executive officer now directly owns 307,117 shares in the company, valued at $115,727,827.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian D. Haney sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $414.60, for a total value of $621,900.00. Following the sale, the chief operating officer now owns 66,831 shares of the company’s stock, valued at $27,708,132.60. The disclosure for this sale can be found here. Insiders sold 8,195 shares of company stock worth $3,146,439 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Kinsale Capital Group

Several large investors have recently made changes to their positions in KNSL. First Horizon Advisors Inc. increased its position in shares of Kinsale Capital Group by 148.8% during the fourth quarter. First Horizon Advisors Inc. now owns 107 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 64 shares in the last quarter. Quarry LP purchased a new stake in Kinsale Capital Group in the 2nd quarter valued at $28,000. Penserra Capital Management LLC purchased a new stake in Kinsale Capital Group in the 2nd quarter valued at $29,000. Lazard Asset Management LLC purchased a new stake in Kinsale Capital Group in the 1st quarter valued at $31,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Kinsale Capital Group in the 3rd quarter valued at $33,000. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

About Kinsale Capital Group

(Get Free Report)

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.