Ascent Group LLC Increases Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Ascent Group LLC increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,585 shares of the financial services provider’s stock after buying an additional 723 shares during the period. Ascent Group LLC’s holdings in Kinsale Capital Group were worth $3,531,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNSL. Thrivent Financial for Lutherans raised its position in Kinsale Capital Group by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after acquiring an additional 6,331 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Kinsale Capital Group by 14.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares during the period. Geneva Capital Management LLC raised its holdings in shares of Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after purchasing an additional 5,207 shares during the period. Copeland Capital Management LLC lifted its stake in Kinsale Capital Group by 0.3% in the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock valued at $107,687,000 after purchasing an additional 685 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Kinsale Capital Group by 10.3% during the second quarter. Natixis Advisors LLC now owns 159,009 shares of the financial services provider’s stock valued at $61,263,000 after purchasing an additional 14,878 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. Jefferies Financial Group boosted their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Truist Financial reduced their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Royal Bank of Canada dropped their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Insider Activity at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now directly owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Trading Down 1.4 %

Shares of Kinsale Capital Group stock opened at $508.44 on Monday. The company’s 50-day moving average price is $466.06 and its 200-day moving average price is $437.40. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a market cap of $11.84 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.16 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the company posted $3.31 EPS. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

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.