Truist Financial Has Lowered Expectations for Kinsale Capital Group (NYSE:KNSL) Stock Price

Kinsale Capital Group (NYSE:KNSL) had its target price reduced by equities research analysts at Truist Financial from $510.00 to $450.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 21.32% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company initiated coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price for the company. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday. Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus price target of $457.00.

Kinsale Capital Group Stock Down 0.1%

Shares of Kinsale Capital Group stock traded down $0.39 on Tuesday, hitting $370.93. 122,717 shares of the company’s stock traded hands, compared to its average volume of 233,971. The firm’s 50-day moving average is $394.96 and its 200 day moving average is $415.35. The stock has a market cap of $8.63 billion, a P/E ratio of 17.12, a PEG ratio of 1.31 and a beta of 0.99. Kinsale Capital Group has a 52-week low of $341.06 and a 52-week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period last year, the company earned $4.62 earnings per share. Equities analysts anticipate that Kinsale Capital Group will post 17.72 earnings per share for the current year.

Kinsale Capital Group announced that its Board of Directors has authorized a stock buyback program on Thursday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Kinsale Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNSL. AQR Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 361 shares during the last quarter. CWM LLC raised its position in shares of Kinsale Capital Group by 37.6% in the second quarter. CWM LLC now owns 494 shares of the financial services provider’s stock valued at $239,000 after buying an additional 135 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Kinsale Capital Group in the second quarter worth $277,000. Stratos Wealth Advisors LLC bought a new position in Kinsale Capital Group in the 2nd quarter valued at about $230,000. Finally, Wallace Advisory Group LLC acquired a new position in Kinsale Capital Group during the second quarter valued at approximately $296,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.