Wells Fargo & Company MN lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,539 shares of the financial services provider’s stock after selling 8,391 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Kinsale Capital Group worth $9,558,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in KNSL. Invesco Ltd. lifted its holdings in shares of Kinsale Capital Group by 15.4% during the 3rd quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Kinsale Capital Group by 154.5% in the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after purchasing an additional 198,129 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Kinsale Capital Group by 4,798.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock worth $101,692,000 after buying an additional 240,668 shares in the last quarter. Norges Bank bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth $78,562,000. Finally, Copeland Capital Management LLC boosted its stake in Kinsale Capital Group by 4.6% in the fourth quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock valued at $67,363,000 after buying an additional 8,803 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on KNSL. BMO Capital Markets lowered their target price on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Compass Point cut their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Royal Bank of Canada reissued 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. Finally, TD Cowen assumed coverage on Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and a consensus target price of $434.00.
View Our Latest Stock Report on KNSL
Kinsale Capital Group Trading Down 0.9 %
NYSE KNSL opened at $380.88 on Wednesday. The firm has a market capitalization of $8.87 billion, a PE ratio of 25.31 and a beta of 1.07. The business’s 50-day moving average price is $419.41 and its two-hundred day moving average price is $415.45. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last released 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. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The business had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. During the same quarter in the prior year, the firm posted $2.44 EPS. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, analysts expect that Kinsale Capital Group, Inc. will post 14.96 EPS for the current year.
Kinsale Capital Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 31st will be given a dividend of $0.15 per share. The ex-dividend date is Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s payout ratio is 3.99%.
Insider Buying and Selling
In other Kinsale Capital Group 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 transaction of $1,389,321.72. Following the transaction, the chief operating officer now directly owns 95,850 shares in the company, valued at approximately $35,247,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by insiders.
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.
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