Citigroup Inc. Buys 1,317 Shares of Kinsale Capital Group, Inc. $KNSL

Citigroup Inc. boosted its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,063 shares of the financial services provider’s stock after acquiring an additional 1,317 shares during the quarter. Citigroup Inc. owned 0.24% of Kinsale Capital Group worth $23,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in KNSL. Root Financial Partners LLC purchased a new position in shares of Kinsale Capital Group in the 3rd quarter worth about $33,000. Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group in the second quarter worth approximately $38,000. VSM Wealth Advisory LLC bought a new position in Kinsale Capital Group during the second quarter valued at approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in shares of Kinsale Capital Group during the third quarter worth approximately $40,000. Finally, Eastern Bank bought a new stake in shares of Kinsale Capital Group in the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 2.4%

NYSE KNSL opened at $382.15 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $341.06 and a 1 year high of $512.76. The stock has a market capitalization of $8.89 billion, a PE ratio of 17.63, a PEG ratio of 1.53 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09. The business’s 50-day moving average is $393.67 and its 200 day moving average is $412.06.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The business had revenue of $483.27 million during the quarter, compared to analysts’ expectations of $467.66 million. During the same quarter last year, the business posted $4.62 EPS. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is presently 3.14%.

Analyst Ratings Changes

Several equities analysts recently commented on KNSL shares. Truist Financial reduced their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company started coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a report on Friday, February 13th. Finally, Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.