Kinsale Capital's Growth Outlook Continues to Slow, RBC says
MT Newswires Live
Apr 28
Kinsale Capital Group's (KNSL) growth challenges are expected to continue with no end in sight, RBC said in a note emailed Monday.
The brokerage said Kinsale continues to struggle with a competitive environment, particularly in its commercial property division, where premiums were down 28% year over year.
However, RBC believes that the stability in Kinsale's profitability remains under-appreciated but expects "shares to be limited by competitive pressures on growth in the near-term."
The brokerage maintained the company's sector perform rating and lowered the price target to $375 from $385.
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