Truist Financial Increases Kinsale Capital Group (NYSE:KNSL) Price Target to $530.00

Kinsale Capital Group (NYSE:KNSL) had its target price lifted by analysts at Truist Financial from $485.00 to $530.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 15.32% from the company’s previous close.

Several other research firms have also commented on KNSL. Royal Bank of Canada boosted their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Finally, Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average target price of $438.71.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded up $9.77 during mid-day trading on Friday, hitting $459.61. 15,440 shares of the stock were exchanged, compared to its average volume of 176,686. Kinsale Capital Group has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The company has a market cap of $10.70 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08. The firm has a fifty day moving average of $455.48 and a 200 day moving average of $433.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The business had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. During the same period in the previous year, the business earned $2.88 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Research analysts anticipate that Kinsale Capital Group will post 15.31 earnings per share for the current year.

Hedge Funds Weigh In On Kinsale Capital Group

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Kinsale Capital Group during the first quarter worth about $25,000. Trust Co. of Vermont lifted its stake in Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth $33,000. Quarry LP acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Kinsale Capital Group by 713.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 122 shares of the financial services provider’s stock valued at $64,000 after buying an additional 107 shares during the period. 85.36% of the stock is currently 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.