Morgan Stanley Begins Coverage on Kinsale Capital Group (NYSE:KNSL)

Research analysts at Morgan Stanley began coverage on shares of Kinsale Capital Group (NYSE:KNSL) in a research report issued on Thursday, MarketBeat reports. The brokerage set an “overweight” rating and a $593.00 price target on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 19.13% from the company’s current price.

Other analysts also recently issued reports about the company. Truist Financial lowered their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Finally, BMO Capital Markets lifted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $472.00.

Kinsale Capital Group Stock Down 0.4 %

NYSE KNSL opened at $497.79 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $11.59 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.15 and a beta of 1.13. Kinsale Capital Group has a one year low of $325.01 and a one year high of $548.47. The stock has a 50 day moving average price of $468.76 and a 200-day moving average price of $439.39.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. Kinsale Capital Group’s revenue was up 33.0% on a year-over-year basis. During the same period last year, the company earned $3.31 earnings per share. As a group, equities analysts predict that Kinsale Capital Group will post 15.52 EPS for the current fiscal year.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinsale Capital Group

A number of large investors have recently added to or reduced their stakes in KNSL. Cetera Investment Advisers raised its holdings in Kinsale Capital Group by 148.9% in the first quarter. Cetera Investment Advisers now owns 5,021 shares of the financial services provider’s stock worth $2,635,000 after purchasing an additional 3,004 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Kinsale Capital Group during the first quarter worth about $383,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Kinsale Capital Group during the first quarter worth about $312,000. GAMMA Investing LLC grew its stake in shares of Kinsale Capital Group by 39.6% during the second quarter. GAMMA Investing LLC now owns 275 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 78 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Kinsale Capital Group during the second quarter worth about $503,000. 85.36% of the stock is currently owned by institutional investors.

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.