Kinsale Capital Group, Inc. $KNSL Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1,753.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,543 shares of the financial services provider’s stock after buying an additional 7,136 shares during the quarter. Fifth Third Bancorp’s holdings in Kinsale Capital Group were worth $2,577,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in KNSL. V Square Quantitative Management LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth $25,000. Bayban purchased a new position in Kinsale Capital Group in the fourth quarter worth $25,000. eCIO Inc. acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $29,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Insider Transactions at Kinsale Capital Group

In related news, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Wells Fargo & Company upped their price target on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley reduced their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Finally, Truist Financial decreased their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $373.80.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $350.31 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $8.08 billion, a PE ratio of 15.42, a P/E/G ratio of 1.11 and a beta of 0.90. The firm has a 50 day simple moving average of $318.62 and a 200-day simple moving average of $350.60. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period in the prior year, the business posted $3.71 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 20.71 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.40%.

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.