JMP Securities Reaffirms Market Perform Rating for Kinsale Capital Group (NYSE:KNSL)

Kinsale Capital Group (NYSE:KNSL)‘s stock had its “market perform” rating reaffirmed by analysts at JMP Securities in a research note issued on Friday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research report on Monday, October 28th. Royal Bank of Canada cut their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets upped their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $460.78.

Kinsale Capital Group Price Performance

KNSL stock opened at $449.77 on Friday. The business’s 50-day moving average is $459.56 and its two-hundred day moving average is $465.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $10.47 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a 1 year low of $355.12 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Analysts anticipate that Kinsale Capital Group will post 15.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the transaction, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. This trade represents a 23.80 % 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 worth $3,618,954. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 1,035 shares during the period. Geneva Capital Management LLC grew its holdings in Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after acquiring an additional 5,207 shares during the period. Swedbank AB raised its position in Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock worth $19,582,000 after acquiring an additional 2,010 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after purchasing an additional 57,460 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

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.