SunTrust Banks Brokers Boost Earnings Estimates for Kinsale Capital Group Inc (KNSL)

Kinsale Capital Group Inc (NASDAQ:KNSL) – Stock analysts at SunTrust Banks increased their Q4 2017 EPS estimates for Kinsale Capital Group in a research report issued on Friday, according to Zacks Investment Research. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will post earnings of $0.39 per share for the quarter, up from their prior estimate of $0.38. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Kinsale Capital Group’s Q2 2018 earnings at $0.40 EPS and Q3 2018 earnings at $0.40 EPS.

Kinsale Capital Group (NASDAQ:KNSL) last released its earnings results on Wednesday, March 1st. The financial services provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. Kinsale Capital Group had a net margin of 16.34% and a return on equity of 14.31%. The business had revenue of $40.35 million during the quarter, compared to analysts’ expectations of $36.65 million.

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Earnings History and Estimates for Kinsale Capital Group (NASDAQ:KNSL)

Separately, Zacks Investment Research downgraded Kinsale Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.25.

Shares of Kinsale Capital Group (NASDAQ:KNSL) traded up 0.15% during midday trading on Monday, reaching $34.36. The company’s stock had a trading volume of 51,371 shares. The firm has a 50-day moving average of $33.90 and a 200-day moving average of $30.97. The stock has a market cap of $720.46 million and a PE ratio of 60.92. Kinsale Capital Group has a one year low of $18.00 and a one year high of $36.96.

In related news, major shareholder Moelis Capital Partners Opport sold 4,307,774 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total value of $136,125,658.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 250,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $31.60, for a total value of $7,900,000.00. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently made changes to their positions in KNSL. Russell Investments Group Ltd. purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $1,814,000. Tygh Capital Management Inc. purchased a new position in shares of Kinsale Capital Group during the third quarter valued at about $5,143,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Kinsale Capital Group during the third quarter valued at about $1,151,000. JPMorgan Chase & Co. purchased a new position in shares of Kinsale Capital Group during the third quarter valued at about $689,000. Finally, Cortina Asset Management LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $11,665,000. 39.69% of the stock is currently owned by institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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