The Manufacturers Life Insurance Company reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating ) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,535 shares of the financial services provider’s stock after selling 724 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.11% of Kinsale Capital Group worth $6,522,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Kinsale Capital Group by 1.0% in the first quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock valued at $524,835,000 after buying an additional 23,604 shares during the period. Vanguard Group Inc. increased its position in shares of Kinsale Capital Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,225,632 shares of the financial services provider’s stock valued at $507,488,000 after purchasing an additional 26,965 shares during the period. State Street Corp boosted its position in shares of Kinsale Capital Group by 0.9% in the second quarter. State Street Corp now owns 719,852 shares of the financial services provider’s stock valued at $165,307,000 after buying an additional 6,464 shares during the period. Geneva Capital Management LLC boosted its position in shares of Kinsale Capital Group by 4.0% in the third quarter. Geneva Capital Management LLC now owns 670,047 shares of the financial services provider’s stock valued at $171,143,000 after buying an additional 25,966 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of Kinsale Capital Group by 33.5% during the second quarter. Macquarie Group Ltd. now owns 446,626 shares of the financial services provider’s stock valued at $102,563,000 after purchasing an additional 112,060 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s shares.
Introducing Kinsale Capital Group shares
Shares of KNSL stock opened at $273.08 on Monday. The company has a debt-to-equity ratio of 0.20, a quick earnings ratio of 0.18, and a current ratio of 0.18. Kinsale Capital Group, Inc. has a twelve month low of $180.05 and a twelve month high of $334.99. The firm’s 50-day moving average is $281.43, and its 200-day moving average is $276.64. The firm has a market cap of $6.26 billion, a P/E ratio of 44.99 and a beta of 0.89.
Kinsale Capital Group (NYSE: KNSL – Get Rating ) last announced its quarterly earnings results on Thursday, October 27th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.22. Kinsale Capital Group had a net margin of 18.45% and a return on equity of 24.56%. The firm had revenue of $216.96 million for the quarter, compared to analyst estimates of $214.02 million. On average, analysts predict that Kinsale Capital Group, Inc. will post 7.35 EPS for the current fiscal year.
Kinsale Capital Group dividend announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Shareholders of record on Wednesday, November 30th were given a $0.13 dividend. This represents an annualized dividend of $0.52 and a yield of 0.19%. The ex-dividend date was Tuesday, November 29th. Kinsale Capital Group’s payout ratio is currently 8.57%.
Analysts set new price targets
Several equities analysts recently commented on the stock. BMO Capital Markets initiated coverage on shares of Kinsale Capital Group in a research report on Thursday, January 19th. They set an “underperform” rating and a $230.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Kinsale Capital Group in a report on Monday, December 12th. They set a “hold” rating and a $295.00 target price for the company. Truist Financial boosted their price objective on shares of Kinsale Capital Group from $285.00 to $335.00 in a report on Monday, October 31st. StockNews.com initiated coverage on shares of Kinsale Capital Group in a report on Wednesday, October 12th. They assign a “hold” rating to the company. Finally, Royal Bank of Canada boosted their price objective on shares of Kinsale Capital Group from $275.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $308.00, according to MarketBeat.
Insider buying and selling at Kinsale Capital Group
In other news, CEO Michael P. Kehoe sold 3,500 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $317.16, for a total value of $1,110,060.00. Following the sale, the chief executive officer now owns 313,441 shares of the company’s stock, valued at $99,410,947.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Insiders own 6.20% of the company’s stock.
Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc is a holding company engaged in the provision of property and casualty insurance services. It manages the extraordinary and excess lines insurance segment. The Lines Extraordinary and Excess Insurance segment provides commercial lines liability and excess lines and property insurance products through insurance divisions.
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