Russell Investments Group Ltd. Buys 8,635 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Russell Investments Group Ltd. boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 50.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,877 shares of the financial services provider’s stock after purchasing an additional 8,635 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kinsale Capital Group were worth $8,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in shares of Kinsale Capital Group by 11.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,214 shares of the financial services provider’s stock valued at $8,785,000 after buying an additional 2,198 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Kinsale Capital Group by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 217,546 shares of the financial services provider’s stock valued at $90,092,000 after buying an additional 1,018 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Kinsale Capital Group by 1.4% during the 3rd quarter. New York State Teachers Retirement System now owns 22,207 shares of the financial services provider’s stock valued at $9,197,000 after purchasing an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kinsale Capital Group by 16.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,326 shares of the financial services provider’s stock valued at $1,792,000 after purchasing an additional 613 shares during the last quarter. Finally, Advisor Partners II LLC bought a new stake in shares of Kinsale Capital Group during the 3rd quarter valued at approximately $432,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 3.1 %

NYSE:KNSL opened at $394.16 on Tuesday. The firm’s fifty day moving average is $476.18 and its 200-day moving average is $412.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The firm has a market cap of $9.18 billion, a P/E ratio of 26.19 and a beta of 0.98.

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

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.15 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Insider Activity at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Insiders have sold 9,778 shares of company stock worth $4,532,422 in the last quarter. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KNSL shares. Compass Point decreased their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Truist Financial reduced their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. BMO Capital Markets reduced their target price on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $438.43.

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.