Mutual of America Capital Management LLC Decreases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Mutual of America Capital Management LLC cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,597 shares of the financial services provider’s stock after selling 703 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Kinsale Capital Group were worth $4,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Kinsale Capital Group by 9.6% in the third quarter. CWM LLC now owns 286 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 25 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Kinsale Capital Group by 1.9% in the third quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 29 shares during the last quarter. Atlas Capital Advisors LLC raised its stake in shares of Kinsale Capital Group by 12.5% in the second quarter. Atlas Capital Advisors LLC now owns 261 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 29 shares during the last quarter. Pearl River Capital LLC raised its stake in shares of Kinsale Capital Group by 5.2% in the third quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 30 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. raised its stake in shares of Kinsale Capital Group by 1.1% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider’s stock worth $889,000 after purchasing an additional 30 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Kinsale Capital Group Stock Down 0.8 %

Shares of KNSL opened at $447.27 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group, Inc. has a 12 month low of $297.33 and a 12 month high of $548.47. The stock’s 50 day moving average is $487.90 and its two-hundred day moving average is $414.22. The firm has a market cap of $10.37 billion, a P/E ratio of 33.86 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.43. The business had revenue of $351.17 million for the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.60 earnings per share. Analysts predict that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.15 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.54%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KNSL shares. BMO Capital Markets cut Kinsale Capital Group from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $434.00 to $544.00 in a research note on Wednesday, February 28th. Truist Financial raised their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised their target price on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $510.00.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.