Kinsale Capital Group (NASDAQ:KNSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “
A number of other equities analysts have also recently commented on the company. BidaskClub raised Kinsale Capital Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 8th. William Blair reaffirmed a “hold” rating on shares of Kinsale Capital Group in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Kinsale Capital Group currently has a consensus rating of “Buy” and an average price target of $49.67.
Shares of Kinsale Capital Group stock opened at $50.40 on Thursday. Kinsale Capital Group has a one year low of $31.03 and a one year high of $55.10. The firm has a market capitalization of $1,079.92, a P/E ratio of 41.05 and a beta of 0.13.
Kinsale Capital Group (NASDAQ:KNSL) last announced its earnings results on Monday, February 26th. The financial services provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). Kinsale Capital Group had a return on equity of 11.76% and a net margin of 13.33%. The company had revenue of $50.74 million during the quarter, compared to the consensus estimate of $49.23 million. analysts anticipate that Kinsale Capital Group will post 2.02 earnings per share for the current year.
In other Kinsale Capital Group news, SVP William J. Jr. Kenney sold 13,750 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $51.79, for a total value of $712,112.50. Following the completion of the sale, the senior vice president now owns 18,286 shares in the company, valued at approximately $947,031.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kinsale Capital Group by 678.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,826 shares of the financial services provider’s stock worth $122,000 after buying an additional 2,463 shares in the last quarter. US Bancorp DE increased its stake in Kinsale Capital Group by 60.6% in the 4th quarter. US Bancorp DE now owns 3,106 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,172 shares in the last quarter. Aperio Group LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth $234,000. Suntrust Banks Inc. purchased a new stake in Kinsale Capital Group in the 4th quarter worth $254,000. Finally, Teacher Retirement System of Texas purchased a new stake in Kinsale Capital Group in the 4th quarter worth $293,000. Institutional investors and hedge funds own 83.02% of the company’s stock.
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About Kinsale Capital Group
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 casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.
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