Nisa Investment Advisors LLC Sells 148 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Nisa Investment Advisors LLC lessened its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 833 shares of the financial services provider’s stock after selling 148 shares during the period. Nisa Investment Advisors LLC’s holdings in Kinsale Capital Group were worth $279,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Royal London Asset Management Ltd. grew its holdings in Kinsale Capital Group by 4,798.0% during the third quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock worth $101,692,000 after purchasing an additional 240,668 shares during the period. Morgan Stanley boosted its stake in shares of Kinsale Capital Group by 107.7% during the 4th quarter. Morgan Stanley now owns 450,657 shares of the financial services provider’s stock worth $117,856,000 after acquiring an additional 233,687 shares during the period. DAVENPORT & Co LLC increased its holdings in shares of Kinsale Capital Group by 154.5% during the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after acquiring an additional 198,129 shares during the last quarter. International Assets Investment Management LLC raised its stake in Kinsale Capital Group by 33,266.0% in the 4th quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock valued at $59,896,000 after acquiring an additional 178,306 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Kinsale Capital Group by 33.5% in the 2nd quarter. Macquarie Group Ltd. now owns 446,626 shares of the financial services provider’s stock valued at $102,563,000 after acquiring an additional 112,060 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $452.20 on Friday. The firm has a 50-day moving average price of $490.65 and a two-hundred day moving average price of $415.01. Kinsale Capital Group, Inc. has a 12-month low of $297.33 and a 12-month high of $548.47. The company has a market capitalization of $10.49 billion, a P/E ratio of 34.23 and a beta of 0.89. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.17.

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

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.15 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is 4.54%.

Insider Transactions at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction that occurred 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 transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 of the company’s stock, valued at $159,199,255.56. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

About Kinsale Capital Group

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.