Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 689,386 shares of the financial services provider’s stock after buying an additional 8,954 shares during the quarter. State Street Corp owned 2.96% of Kinsale Capital Group worth $320,957,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp lifted its stake in Kinsale Capital Group by 5.1% during the third quarter. Stifel Financial Corp now owns 16,760 shares of the financial services provider’s stock valued at $7,803,000 after buying an additional 806 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Kinsale Capital Group by 141.3% in the 3rd quarter. Quadrature Capital Ltd now owns 3,964 shares of the financial services provider’s stock valued at $1,847,000 after acquiring an additional 2,321 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Kinsale Capital Group by 13.9% in the 3rd quarter. Quantinno Capital Management LP now owns 943 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 115 shares during the period. Port Capital LLC grew its position in Kinsale Capital Group by 0.3% during the 3rd quarter. Port Capital LLC now owns 105,813 shares of the financial services provider’s stock worth $49,263,000 after purchasing an additional 300 shares in the last quarter. Finally, Maren Capital LLC raised its stake in Kinsale Capital Group by 0.5% during the 3rd quarter. Maren Capital LLC now owns 141,231 shares of the financial services provider’s stock valued at $65,753,000 after purchasing an additional 643 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $502.30 on Wednesday. The business’s 50-day simple moving average is $472.15 and its 200-day simple moving average is $442.44. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 2.24 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter last year, the firm posted $3.31 earnings per share. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KNSL shares. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reduced their price target on shares of 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. Jefferies Financial Group boosted their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased 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 research report on Thursday, November 21st. Finally, Truist Financial lowered their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $472.00.

Insider Transactions at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

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.