Vanguard Group Inc. Sells 20,545 Shares of Kinsale Capital Group, Inc. $KNSL

Vanguard Group Inc. decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,089,693 shares of the financial services provider’s stock after selling 20,545 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Kinsale Capital Group worth $888,663,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bamco Inc. NY raised its stake in shares of Kinsale Capital Group by 1.4% in the second quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock worth $853,500,000 after acquiring an additional 24,936 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Kinsale Capital Group by 2.1% during the second quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock valued at $288,657,000 after purchasing an additional 12,040 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after purchasing an additional 25,428 shares in the last quarter. Riverbridge Partners LLC raised its position in Kinsale Capital Group by 11.1% in the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock worth $123,548,000 after purchasing an additional 29,053 shares during the last quarter. Finally, Norges Bank acquired a new position in Kinsale Capital Group during the 2nd quarter worth $125,812,000. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KNSL. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Royal Bank Of Canada assumed coverage on shares of Kinsale Capital Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Cantor Fitzgerald reduced their price objective on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Finally, Truist Financial lowered their target price on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $457.00.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $373.66 on Monday. The firm’s 50 day simple moving average is $394.47 and its 200 day simple moving average is $413.41. Kinsale Capital Group, Inc. has a fifty-two week low of $341.06 and a fifty-two week high of $512.76. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.08 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, beating the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same quarter in the prior year, the firm earned $4.62 earnings per share. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, February 26th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.14%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.