Corebridge Financial Inc. Sells 1,132 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Corebridge Financial Inc. decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,286 shares of the financial services provider’s stock after selling 1,132 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Kinsale Capital Group worth $11,761,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in Kinsale Capital Group by 1,119.0% during the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after buying an additional 64,900 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $22,933,000. DAVENPORT & Co LLC increased its holdings in Kinsale Capital Group by 9.6% during the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after purchasing an additional 44,931 shares in the last quarter. Erste Asset Management GmbH bought a new position in Kinsale Capital Group in the 3rd quarter valued at $18,599,000. Finally, Raymond James Financial Inc. acquired a new position in Kinsale Capital Group in the fourth quarter worth $18,323,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL stock opened at $485.35 on Wednesday. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $536.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $11.30 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The business’s fifty day moving average is $449.57 and its 200-day moving average is $460.55.

Kinsale Capital Group (NYSE:KNSL) last released its 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 analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. Equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.82%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Truist Financial upped their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.