UMB Bank n.a. Boosts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

UMB Bank n.a. raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 108.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 213 shares of the financial services provider’s stock after purchasing an additional 111 shares during the period. UMB Bank n.a.’s holdings in Kinsale Capital Group were worth $104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KNSL. LPL Financial LLC raised its stake in Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock worth $9,310,000 after acquiring an additional 4,644 shares during the period. California Public Employees Retirement System raised its stake in shares of Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock worth $18,299,000 after buying an additional 4,146 shares in the last quarter. Empowered Funds LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $1,071,000. Charles Schwab Investment Management Inc. lifted its stake in Kinsale Capital Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock valued at $70,907,000 after purchasing an additional 3,970 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on KNSL shares. Morgan Stanley upped their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial decreased their price target on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $484.57.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president now directly owns 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.50% of the company’s stock.

Kinsale Capital Group Trading Up 3.0%

Shares of KNSL opened at $473.64 on Friday. Kinsale Capital Group, Inc. has a 12-month low of $366.92 and a 12-month high of $531.79. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.66 and a beta of 1.20. The stock’s 50-day moving average price is $463.82 and its 200 day moving average price is $462.60. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $425.73 million. During the same quarter in the previous year, the firm posted $3.50 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.17 dividend. This represents a dividend yield of 0.15%. The ex-dividend date was Thursday, May 29th. Kinsale Capital Group’s payout ratio is 3.91%.

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.