William Blair Upgrades Kinsale Capital Group (KNSL) to Outperform

Kinsale Capital Group (NASDAQ:KNSL) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports.

Other research analysts have also recently issued research reports about the stock. SunTrust Banks reiterated a “buy” rating and issued a $65.00 target price on shares of Kinsale Capital Group in a research note on Wednesday, August 8th. BidaskClub cut shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research cut shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.33.

NASDAQ:KNSL opened at $58.89 on Thursday. Kinsale Capital Group has a 1 year low of $41.49 and a 1 year high of $64.97. The company has a market capitalization of $1.26 billion, a PE ratio of 47.11 and a beta of 0.62.

Kinsale Capital Group (NASDAQ:KNSL) last posted its earnings results on Friday, November 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Kinsale Capital Group had a net margin of 16.33% and a return on equity of 14.84%. The company had revenue of $60.14 million during the quarter, compared to analysts’ expectations of $57.62 million. On average, sell-side analysts forecast that Kinsale Capital Group will post 1.82 EPS for the current fiscal year.

In related news, CEO Michael P. Kehoe sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $59.24, for a total value of $592,400.00. Following the completion of the sale, the chief executive officer now owns 352,339 shares of the company’s stock, valued at $20,872,562.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick L. Jr. Russell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $61.31, for a total transaction of $61,310.00. Following the completion of the sale, the director now directly owns 1,111 shares of the company’s stock, valued at approximately $68,115.41. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock valued at $1,076,340. 8.20% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC increased its holdings in shares of Kinsale Capital Group by 992,674.2% in the third quarter. Clearbridge Investments LLC now owns 307,760 shares of the financial services provider’s stock valued at $19,654,000 after purchasing an additional 307,729 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kinsale Capital Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 920,512 shares of the financial services provider’s stock worth $58,783,000 after acquiring an additional 6,834 shares during the period. Teachers Advisors LLC grew its holdings in Kinsale Capital Group by 12.4% during the 3rd quarter. Teachers Advisors LLC now owns 37,939 shares of the financial services provider’s stock worth $2,423,000 after acquiring an additional 4,178 shares during the period. AQR Capital Management LLC grew its holdings in Kinsale Capital Group by 132.5% during the 3rd quarter. AQR Capital Management LLC now owns 19,012 shares of the financial services provider’s stock worth $1,214,000 after acquiring an additional 10,836 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in Kinsale Capital Group during the 3rd quarter worth $332,000. 83.38% of the stock is owned by institutional investors and hedge funds.

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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