BUZZ-BMO cuts Kinsale Capital PT on softer underwriting, investment income
Reuters
Feb 20
BUZZ-BMO cuts Kinsale Capital PT on softer underwriting, investment income
** BMO cuts PT on insurer Kinsale Capital Group to $418 from $466
** New PT is still at 11.7% upside to stock's last close
** Brokerage cites lower growth driving lower underwriting income and net investment income
** "KNSL is producing best-in-class combined ratios and ROEs with relatively low EPS volatility to boot, but we estimate shares will continue to be range-bound in a decelerating growth environment," brokerage says
** Four of 13 analysts rate stock "strong buy" or "buy" and nine "hold"; their median PT is $444.50 - data compiled by LSEG
** Including session's move, KNSL down 4.4% YTD
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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