Truist Financial Corp Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Truist Financial Corp trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,127 shares of the financial services provider’s stock after selling 938 shares during the quarter. Truist Financial Corp’s holdings in Kinsale Capital Group were worth $5,641,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its holdings in Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after acquiring an additional 58,971 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Kinsale Capital Group by 76,986.9% in the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock worth $21,892,000 after acquiring an additional 46,962 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after acquiring an additional 44,931 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Kinsale Capital Group in the 3rd quarter worth $18,599,000. Finally, Janney Montgomery Scott LLC increased its holdings in Kinsale Capital Group by 655.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,362 shares of the financial services provider’s stock worth $16,448,000 after acquiring an additional 30,684 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 2.9 %

Shares of KNSL stock opened at $428.74 on Friday. The company’s 50-day moving average price is $452.64 and its 200-day moving average price is $465.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.66 and a beta of 1.15. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s payout ratio is presently 3.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KNSL shares. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. BMO Capital Markets upped their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group 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.