Kinsale Capital Group, Inc. (NYSE:KNSL) Position Lifted by Swiss National Bank

Swiss National Bank grew its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,562 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the period. Swiss National Bank owned 0.23% of Kinsale Capital Group worth $13,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Oppenheimer & Co. Inc. raised its holdings in shares of Kinsale Capital Group by 1.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 6,570 shares of the financial services provider’s stock worth $1,718,000 after purchasing an additional 83 shares during the period. Dakota Wealth Management increased its holdings in shares of Kinsale Capital Group by 5.6% in the 4th quarter. Dakota Wealth Management now owns 1,220 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 65 shares during the period. Arizona State Retirement System increased its holdings in shares of Kinsale Capital Group by 3.8% in the 4th quarter. Arizona State Retirement System now owns 6,139 shares of the financial services provider’s stock worth $1,605,000 after acquiring an additional 225 shares during the period. Duality Advisers LP grew its position in Kinsale Capital Group by 135.2% in the 4th quarter. Duality Advisers LP now owns 9,094 shares of the financial services provider’s stock valued at $2,378,000 after buying an additional 5,228 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Kinsale Capital Group by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,875 shares of the financial services provider’s stock valued at $1,275,000 after buying an additional 67 shares in the last quarter. 85.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KNSL shares. Truist Financial raised their price objective on shares of Kinsale Capital Group from $335.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $230.00 to $245.00 and gave the stock an “underperform” rating in a report on Wednesday, April 5th. Compass Point cut shares of Kinsale Capital Group from a “buy” rating to a “neutral” rating and raised their target price for the stock from $330.00 to $350.00 in a report on Tuesday, February 21st. StockNews.com began coverage on shares of Kinsale Capital Group in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised their target price on shares of Kinsale Capital Group from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $334.00.

Insider Activity at Kinsale Capital Group

In related news, COO Brian D. Haney sold 2,500 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $341.63, for a total value of $854,075.00. Following the transaction, the chief operating officer now directly owns 72,331 shares in the company, valued at approximately $24,710,439.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Steven J. Bensinger sold 3,000 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $327.59, for a total transaction of $982,770.00. Following the completion of the transaction, the director now directly owns 27,887 shares in the company, valued at approximately $9,135,502.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brian D. Haney sold 2,500 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $341.63, for a total transaction of $854,075.00. Following the transaction, the chief operating officer now owns 72,331 shares of the company’s stock, valued at $24,710,439.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,180 shares of company stock worth $9,421,052. 6.00% of the stock is owned by insiders.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $329.69 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $7.63 billion, a PE ratio of 41.73 and a beta of 0.86. The company has a 50 day moving average price of $314.03 and a two-hundred day moving average price of $298.10. Kinsale Capital Group, Inc. has a 12-month low of $199.01 and a 12-month high of $345.75.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last posted its earnings results on Friday, April 28th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.20. Kinsale Capital Group had a net margin of 20.44% and a return on equity of 28.34%. The business had revenue of $299.03 million for the quarter, compared to analyst estimates of $252.84 million. During the same period last year, the business posted $1.63 EPS. Kinsale Capital Group’s revenue was up 38.1% compared to the same quarter last year. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 10.32 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Tuesday, February 28th were paid a $0.14 dividend. The ex-dividend date was Monday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 0.17%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 7.09%.

Kinsale Capital Group Profile

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Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.