Comerica Bank Reduces Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Comerica Bank lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 86.5% in the fourth quarter, HoldingsChannel reports. The firm owned 7,196 shares of the financial services provider’s stock after selling 46,102 shares during the period. Comerica Bank’s holdings in Kinsale Capital Group were worth $2,814,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Bamco Inc. NY boosted its stake in Kinsale Capital Group by 1.4% during the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after buying an additional 24,796 shares during the period. DAVENPORT & Co LLC boosted its stake in Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after buying an additional 10,137 shares during the period. JPMorgan Chase & Co. boosted its stake in Kinsale Capital Group by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after buying an additional 25,428 shares during the period. Invesco Ltd. boosted its stake in Kinsale Capital Group by 2.6% during the third quarter. Invesco Ltd. now owns 274,724 shares of the financial services provider’s stock worth $116,829,000 after buying an additional 6,934 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Kinsale Capital Group by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock worth $116,390,000 after buying an additional 35,864 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of several research analyst reports. Truist Financial lowered their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a research note on Wednesday, February 25th. Cantor Fitzgerald lowered their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $392.00.

Kinsale Capital Group Stock Down 2.4%

Shares of KNSL opened at $304.36 on Tuesday. The stock has a market capitalization of $7.02 billion, a PE ratio of 13.40, a P/E/G ratio of 1.01 and a beta of 0.95. Kinsale Capital Group, Inc. has a 1 year low of $303.08 and a 1 year high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company’s 50-day simple moving average is $354.05 and its 200-day simple moving average is $381.43.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.71 earnings per share. Analysts forecast that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Kinsale Capital Group 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.