Bank of New York Mellon Corp increased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,685 shares of the financial services provider's stock after purchasing an additional 3,586 shares during the quarter. Bank of New York Mellon Corp owned 1.02% of Kinsale Capital Group worth $53,284,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in KNSL. TCI Wealth Advisors Inc. raised its holdings in shares of Kinsale Capital Group by 186.0% during the first quarter. TCI Wealth Advisors Inc. now owns 123 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 80 shares during the period. Rise Advisors LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter valued at approximately $47,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Kinsale Capital Group during the first quarter valued at approximately $67,000. KBC Group NV raised its holdings in shares of Kinsale Capital Group by 65.3% during the first quarter. KBC Group NV now owns 524 shares of the financial services provider's stock valued at $119,000 after acquiring an additional 207 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Kinsale Capital Group by 130.8% during the first quarter. Nisa Investment Advisors LLC now owns 577 shares of the financial services provider's stock valued at $132,000 after acquiring an additional 327 shares during the period. 84.37% of the stock is currently owned by institutional investors.
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Wall Street Analyst Weigh In
KNSL has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Kinsale Capital Group from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, August 1st. Compass Point lowered shares of Kinsale Capital Group from a "buy" rating to a "neutral" rating and set a $310.00 price objective on the stock. in a research note on Monday, August 15th. Finally, Truist Financial upped their price objective on shares of Kinsale Capital Group from $270.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, August 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $290.00.
Insider Buying and Selling
In related news, CFO Bryan P. Petrucelli sold 5,000 shares of the company's stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $280.22, for a total transaction of $1,401,100.00. Following the completion of the sale, the chief financial officer now directly owns 59,146 shares of the company's stock, valued at approximately $16,573,892.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Bryan P. Petrucelli sold 5,000 shares of the company's stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $280.22, for a total transaction of $1,401,100.00. Following the completion of the transaction, the chief financial officer now directly owns 59,146 shares in the company, valued at approximately $16,573,892.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brian D. Haney sold 750 shares of the company's stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $265.00, for a total transaction of $198,750.00. Following the transaction, the chief operating officer now owns 88,086 shares of the company's stock, valued at $23,342,790. The disclosure for this sale can be found here. In the last three months, insiders sold 7,988 shares of company stock valued at $2,198,361. Company insiders own 6.20% of the company's stock.
Kinsale Capital Group Stock Performance
KNSL stock opened at $254.59 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 40.87 and a beta of 0.86. Kinsale Capital Group, Inc. has a 12 month low of $157.81 and a 12 month high of $285.26. The firm has a 50 day moving average of $245.21 and a two-hundred day moving average of $227.59.
Kinsale Capital Group (NYSE:KNSL – Get Rating) last posted its earnings results on Thursday, July 28th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. The company had revenue of $178.96 million during the quarter, compared to the consensus estimate of $197.41 million. Kinsale Capital Group had a net margin of 20.32% and a return on equity of 24.01%. During the same period in the previous year, the firm posted $1.28 earnings per share. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 7.23 EPS for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Monday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, August 26th. Kinsale Capital Group's dividend payout ratio is currently 8.35%.
Kinsale Capital Group Profile
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Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.
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