Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 46.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,754 shares of the financial services provider’s stock after buying an additional 2,136 shares during the quarter. Van ECK Associates Corp’s holdings in Kinsale Capital Group were worth $2,262,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of KNSL. Anchor Investment Management LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $25,000. Emerald Advisers LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at about $33,000. Beacon Capital Management LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $33,000. Milestone Investment Advisors LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at about $58,000. Finally, Operose Advisors LLC acquired a new stake in Kinsale Capital Group in the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KNSL. BMO Capital Markets cut their price target on shares of 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. Compass Point cut their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Truist Financial cut their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $438.43.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $396.17 on Wednesday. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 26.32 and a beta of 0.98. Kinsale Capital Group, Inc. has a fifty-two week low of $297.33 and a fifty-two week high of $548.47. 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 business’s 50-day moving average is $473.84 and its 200-day moving average is $412.58.

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

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a $0.15 dividend. 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 dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the 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 transaction, 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 at this link. 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian D. Haney sold 3,778 shares of the 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 completion of the transaction, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. 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 90 days. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company 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.