New York State Common Retirement Fund Decreases Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

New York State Common Retirement Fund cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 30.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,307 shares of the financial services provider’s stock after selling 9,289 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Kinsale Capital Group worth $7,136,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC purchased a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $8,002,000. Navellier & Associates Inc. purchased a new stake in Kinsale Capital Group in the 3rd quarter worth about $975,000. Scout Investments Inc. increased its holdings in Kinsale Capital Group by 38.0% in the 3rd quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock worth $38,780,000 after acquiring an additional 26,084 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Kinsale Capital Group by 83.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 29,730 shares of the financial services provider’s stock worth $9,957,000 after acquiring an additional 13,530 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in Kinsale Capital Group by 116.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock worth $5,127,000 after acquiring an additional 6,651 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Compass Point decreased their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets decreased their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday. Truist Financial decreased their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $438.43.

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,778 shares of company stock worth $4,532,422. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Stock Down 1.5 %

Shares of NYSE KNSL opened at $373.11 on Friday. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The business has a 50-day simple moving average of $481.04 and a two-hundred day simple moving average of $413.92. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.65 billion, a P/E ratio of 24.79 and a beta of 0.98.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. Research analysts anticipate that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.99%.

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.