ValuEngine Downgrades Kinsale Capital Group (NASDAQ:KNSL) to Buy

ValuEngine downgraded shares of Kinsale Capital Group (NASDAQ:KNSL) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday, ValuEngine reports.

Other analysts have also recently issued reports about the company. SunTrust Banks upped their target price on Kinsale Capital Group from $85.00 to $100.00 and gave the company a buy rating in a report on Monday, July 1st. They noted that the move was a valuation call. TheStreet upgraded Kinsale Capital Group from a c+ rating to an a- rating in a report on Friday, May 10th. Zacks Investment Research cut Kinsale Capital Group from a buy rating to a hold rating in a report on Saturday, July 27th. BidaskClub cut Kinsale Capital Group from a strong-buy rating to a buy rating in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their target price on Kinsale Capital Group from $70.00 to $84.00 and gave the company an outperform rating in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $95.00.

KNSL stock traded up $0.18 during trading on Thursday, hitting $90.16. The company had a trading volume of 175,869 shares, compared to its average volume of 112,123. The stock has a 50-day moving average price of $91.51. Kinsale Capital Group has a one year low of $50.34 and a one year high of $99.70. The firm has a market cap of $1.92 billion, a PE ratio of 50.37 and a beta of 0.54.

Kinsale Capital Group (NASDAQ:KNSL) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Kinsale Capital Group had a return on equity of 17.37% and a net margin of 18.67%. The business had revenue of $72.57 million for the quarter, compared to analysts’ expectations of $69.49 million. As a group, research analysts expect that Kinsale Capital Group will post 2.42 earnings per share for the current year.

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 1,111 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $80.30, for a total value of $89,213.30. Following the transaction, the director now directly owns 1,170 shares of the company’s stock, valued at $93,951. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick L. Jr. Russell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $81.96, for a total value of $409,800.00. Following the completion of the transaction, the director now directly owns 2,281 shares in the company, valued at $186,950.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,787 shares of company stock worth $2,649,350. Insiders own 8.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. lifted its stake in Kinsale Capital Group by 2,241.7% in the second quarter. Advisor Group Inc. now owns 281 shares of the financial services provider’s stock valued at $25,000 after buying an additional 269 shares during the period. Alpha Omega Wealth Management LLC lifted its stake in Kinsale Capital Group by 147.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $34,000 after buying an additional 295 shares during the period. Quadrant Capital Group LLC acquired a new position in Kinsale Capital Group in the first quarter valued at approximately $45,000. Great West Life Assurance Co. Can lifted its stake in Kinsale Capital Group by 94.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,423 shares of the financial services provider’s stock valued at $129,000 after buying an additional 1,179 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Kinsale Capital Group in the first quarter valued at approximately $129,000. 83.05% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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