MetLife Investment Management LLC boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 40.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,961 shares of the financial services provider's stock after purchasing an additional 7,164 shares during the period. MetLife Investment Management LLC owned about 0.11% of Kinsale Capital Group worth $5,692,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. lifted its position in shares of Kinsale Capital Group by 186.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 123 shares of the financial services provider's stock valued at $28,000 after buying an additional 80 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at $47,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Kinsale Capital Group during the 1st quarter valued at $67,000. KBC Group NV lifted its position in shares of Kinsale Capital Group by 65.3% during the 1st quarter. KBC Group NV now owns 524 shares of the financial services provider's stock valued at $119,000 after buying an additional 207 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Kinsale Capital Group by 130.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 577 shares of the financial services provider's stock valued at $132,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 84.37% of the company's stock.
Get Kinsale Capital Group alerts:Kinsale Capital Group Stock Performance
Shares of KNSL opened at $254.59 on Monday. The stock's 50-day simple moving average is $245.21 and its 200 day simple moving average is $227.59. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 40.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.16 and a current ratio of 0.16. Kinsale Capital Group, Inc. has a 52-week low of $157.81 and a 52-week high of $285.26.
Kinsale Capital Group (NYSE:KNSL – Get Rating) last announced its earnings results on Thursday, July 28th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.24. The business had revenue of $178.96 million for the quarter, compared to analyst estimates of $197.41 million. Kinsale Capital Group had a return on equity of 24.01% and a net margin of 20.32%. During the same period in the prior year, the company earned $1.28 EPS. Research analysts forecast that Kinsale Capital Group, Inc. will post 7.23 EPS for the current fiscal year.Kinsale Capital Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 26th. This represents a $0.52 dividend on an annualized basis and a yield of 0.20%. Kinsale Capital Group's dividend payout ratio is currently 8.35%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on KNSL shares. Truist Financial upped their price target on Kinsale Capital Group from $270.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, August 1st. Royal Bank of Canada increased their price objective on Kinsale Capital Group from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, August 1st. Finally, Compass Point cut Kinsale Capital Group from a "buy" rating to a "neutral" rating and set a $310.00 price objective on the stock. in a report on Monday, August 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $290.00.
Insiders Place Their Bets
In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 1,500 shares of the company's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $260.79, for a total value of $391,185.00. Following the transaction, the chief executive officer now directly owns 314,941 shares in the company, valued at approximately $82,133,463.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Brian D. Haney sold 750 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $265.00, for a total transaction of $198,750.00. Following the transaction, the chief operating officer now directly owns 88,086 shares in the company, valued at approximately $23,342,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 1,500 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $260.79, for a total value of $391,185.00. Following the transaction, the chief executive officer now owns 314,941 shares in the company, valued at $82,133,463.39. The disclosure for this sale can be found here. Insiders have sold 7,988 shares of company stock worth $2,198,361 in the last ninety days. 6.20% of the stock is currently owned by insiders.
Kinsale Capital Group Company 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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