Kinsale Capital Group (NASDAQ:KNSL) Hits New 12-Month High at $108.00

Kinsale Capital Group Inc (NASDAQ:KNSL)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $108.00 and last traded at $107.70, with a volume of 882 shares trading hands. The stock had previously closed at $106.90.

A number of research analysts have issued reports on KNSL shares. SunTrust Banks upped their target price on shares of Kinsale Capital Group from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. UBS Group upped their target price on shares of Kinsale Capital Group to $112.00 and gave the company a “positive” rating in a research report on Thursday, September 26th. BidaskClub downgraded shares of Kinsale Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, JMP Securities assumed coverage on shares of Kinsale Capital Group in a research report on Friday, September 6th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $100.00.

The business has a 50 day moving average of $102.42 and a 200-day moving average of $90.16. The firm has a market capitalization of $2.28 billion, a P/E ratio of 58.96 and a beta of 0.50.

Kinsale Capital Group (NASDAQ:KNSL) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Kinsale Capital Group had a return on equity of 16.78% and a net margin of 18.67%. The business had revenue of $72.57 million during the quarter, compared to analysts’ expectations of $69.49 million. As a group, analysts forecast that Kinsale Capital Group Inc will post 2.42 EPS for the current fiscal year.

In other news, Director Frederick L. Jr. Russell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $105.17, for a total transaction of $315,510.00. Following the completion of the transaction, the director now directly owns 1,170 shares of the company’s stock, valued at approximately $123,048.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian D. Haney sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $99.32, for a total transaction of $223,470.00. Following the transaction, the chief operating officer now directly owns 177,249 shares of the company’s stock, valued at $17,604,370.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,500 shares of company stock valued at $2,283,573. 8.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Howland Capital Management LLC increased its position in shares of Kinsale Capital Group by 1.3% in the third quarter. Howland Capital Management LLC now owns 141,186 shares of the financial services provider’s stock worth $14,586,000 after purchasing an additional 1,848 shares during the period. Calamos Advisors LLC bought a new position in shares of Kinsale Capital Group in the third quarter worth $4,000,000. Navellier & Associates Inc increased its position in shares of Kinsale Capital Group by 131.7% in the third quarter. Navellier & Associates Inc now owns 6,720 shares of the financial services provider’s stock worth $694,000 after purchasing an additional 3,820 shares during the period. Cim LLC bought a new position in shares of Kinsale Capital Group in the third quarter worth $221,000. Finally, Royal Bank of Canada increased its position in shares of Kinsale Capital Group by 0.3% in the second quarter. Royal Bank of Canada now owns 446,289 shares of the financial services provider’s stock worth $40,826,000 after purchasing an additional 1,153 shares during the period. 81.76% of the stock is owned by institutional investors.

About Kinsale Capital Group (NASDAQ:KNSL)

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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