Wells Fargo & Company MN Sells 2,087 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Wells Fargo & Company MN reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,789 shares of the financial services provider’s stock after selling 2,087 shares during the period. Wells Fargo & Company MN owned about 0.11% of Kinsale Capital Group worth $11,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Kinsale Capital Group by 34.4% in the third quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock valued at $5,480,000 after acquiring an additional 3,014 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Kinsale Capital Group by 34.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 1,731 shares of the financial services provider’s stock valued at $863,000 after purchasing an additional 447 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Kinsale Capital Group in the 3rd quarter worth approximately $398,000. Franklin Resources Inc. boosted its stake in Kinsale Capital Group by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider’s stock worth $45,869,000 after purchasing an additional 12,125 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Kinsale Capital Group by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 521 shares of the financial services provider’s stock valued at $242,000 after buying an additional 148 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KNSL has been the subject of a number of research reports. Truist Financial upped their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $482.91 on Wednesday. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $531.79. The company has a market capitalization of $11.24 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.66 and a beta of 1.16. The business’s 50-day moving average is $458.93 and its two-hundred day moving average is $462.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is 3.82%.

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.