Amalgamated Bank Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Amalgamated Bank lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSLGet Rating) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,588 shares of the financial services provider’s stock after selling 702 shares during the period. Amalgamated Bank owned 0.06% of Kinsale Capital Group worth $3,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Kinsale Capital Group by 1.0% in the first quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock valued at $524,835,000 after purchasing an additional 23,604 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kinsale Capital Group by 1.2% in the first quarter. Vanguard Group Inc. now owns 2,225,632 shares of the financial services provider’s stock valued at $507,488,000 after buying an additional 26,965 shares during the last quarter. State Street Corp raised its position in shares of Kinsale Capital Group by 3.6% in the first quarter. State Street Corp now owns 713,388 shares of the financial services provider’s stock valued at $162,667,000 after buying an additional 24,961 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kinsale Capital Group by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 404,675 shares of the financial services provider’s stock valued at $96,268,000 after buying an additional 27,928 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Kinsale Capital Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 299,226 shares of the financial services provider’s stock valued at $71,183,000 after buying an additional 38,555 shares during the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Truist Financial boosted 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 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 for the company. in a research report on Monday, August 15th. Finally, Royal Bank of Canada upped their price target on shares of Kinsale Capital Group from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $290.00.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $251.87 on Friday. Kinsale Capital Group, Inc. has a one year low of $158.57 and a one year high of $285.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.16 and a current ratio of 0.16. The company has a 50 day moving average price of $252.13 and a 200 day moving average price of $232.52. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 40.56 and a beta of 0.84.

Kinsale Capital Group (NYSE:KNSLGet Rating) last issued its quarterly 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. Kinsale Capital Group had a net margin of 20.32% and a return on equity of 24.01%. The firm had revenue of $178.96 million during the quarter, compared to analyst estimates of $197.41 million. During the same quarter in the prior year, the business posted $1.28 earnings per share. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 7.23 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, August 26th. Kinsale Capital Group’s payout ratio is currently 8.35%.

Insider Transactions at Kinsale Capital Group

In other news, CFO Bryan P. Petrucelli sold 5,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $280.22, for a total value of $1,401,100.00. Following the completion of the sale, the chief financial officer now owns 59,146 shares of the company’s stock, valued at $16,573,892.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value 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 $16,573,892.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 completion of 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. Insiders sold 7,988 shares of company stock valued at $2,198,361 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

About Kinsale Capital Group

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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.

See Also

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Institutional Ownership by Quarter for Kinsale Capital Group (NYSE:KNSL)

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