Kinsale Capital Group (KNSL) Upgraded by William Blair to “Outperform”

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

Several other research analysts have also commented on the company. SunTrust Banks reissued a “buy” rating and issued a $65.00 price target on shares of Kinsale Capital Group in a report on Wednesday, August 8th. Zacks Investment Research downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Finally, BidaskClub downgraded Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $61.33.

Shares of KNSL traded down $1.21 during mid-day trading on Thursday, hitting $58.36. The stock had a trading volume of 107,400 shares, compared to its average volume of 80,399. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 46.69 and a beta of 0.62. Kinsale Capital Group has a fifty-two week low of $41.49 and a fifty-two week high of $64.97.

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

In related news, Director Frederick L. Jr. Russell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $61.31, for a total value of $61,310.00. Following the sale, the director now owns 1,111 shares of the company’s stock, valued at approximately $68,115.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $60.35, for a total value of $301,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock worth $1,076,340. Company insiders own 8.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in KNSL. State Board of Administration of Florida Retirement System bought a new stake in Kinsale Capital Group during the 3rd quarter valued at $201,000. GSA Capital Partners LLP bought a new stake in Kinsale Capital Group during the 3rd quarter valued at $281,000. Lowe Brockenbrough & Co. Inc. bought a new stake in Kinsale Capital Group during the 3rd quarter valued at $332,000. Metropolitan Life Insurance Co. NY raised its stake in Kinsale Capital Group by 29.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,477 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Kinsale Capital Group by 14.9% during the 2nd quarter. Voya Investment Management LLC now owns 7,075 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 915 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

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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