Kinsale Capital price target lowered to $500 from $525 at Truist

Truist lowered the firm’s price target on Kinsale Capital (KNSL) to $500 from $525 and keeps a Buy rating on the shares after its Q1 results. Pricing is down 20% from the peak and the company is seeing more competition from the admitted market and certain MGAs, though the management also indicated that the market dynamics are relatively steady now in relation to the first quarter and that their hit rates on quoted commercial property policies is likewise stable, the analyst tells investors in a research note.