Entropy Technologies LP Invests $1.42 Million in Kinsale Capital Group, Inc. (NYSE:KNSL)

Entropy Technologies LP acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,044 shares of the financial services provider’s stock, valued at approximately $1,416,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Kinsale Capital Group during the 2nd quarter valued at $481,000. CWM LLC lifted its stake in shares of Kinsale Capital Group by 8.8% during the 3rd quarter. CWM LLC now owns 406 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 33 shares during the last quarter. UMB Bank n.a. boosted its position in Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 49 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Kinsale Capital Group by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,580 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 385 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Kinsale Capital Group in the third quarter worth about $26,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $485.50 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average of $462.43 and a 200 day moving average of $464.49. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Insider Buying and Selling

In other news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock valued at $3,618,954 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on KNSL. Truist Financial lowered their price target on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley assumed coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price for the company. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research report on Monday, October 28th. Royal Bank of Canada lowered their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $468.89.

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.