Truist Financial Corp Purchases 605 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Truist Financial Corp lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,415 shares of the financial services provider’s stock after acquiring an additional 605 shares during the quarter. Truist Financial Corp’s holdings in Kinsale Capital Group were worth $6,502,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC bought a new stake in Kinsale Capital Group in the fourth quarter valued at about $8,002,000. Navellier & Associates Inc. bought a new stake in Kinsale Capital Group in the third quarter valued at about $975,000. Scout Investments Inc. increased its holdings in Kinsale Capital Group by 38.0% in the third quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock valued at $38,780,000 after purchasing an additional 26,084 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Kinsale Capital Group by 83.5% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 29,730 shares of the financial services provider’s stock valued at $9,957,000 after purchasing an additional 13,530 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in Kinsale Capital Group by 116.1% in the third quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 6,651 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 2.5 %

KNSL stock opened at $382.37 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $8.87 billion, a P/E ratio of 25.41 and a beta of 0.98. The business has a 50-day moving average of $478.52 and a 200-day moving average of $413.21. Kinsale Capital Group, Inc. has a fifty-two week low of $297.33 and a fifty-two week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. During the same period in the prior year, the firm earned $2.44 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Wall Street Analyst Weigh In

KNSL has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Truist Financial lowered their price target on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Compass Point lowered their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $438.43.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 4,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 303,972 shares of the company’s stock, valued at $159,199,255.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael P. Kehoe sold 4,000 shares of the company’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 value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,778 shares of company stock valued at $4,532,422. Insiders own 5.60% of the company’s stock.

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.