Citigroup Inc. Raises Position in Kinsale Capital Group, Inc. $KNSL

Citigroup Inc. grew its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 56,063 shares of the financial services provider’s stock after purchasing an additional 1,317 shares during the period. Citigroup Inc.’s holdings in Kinsale Capital Group were worth $23,841,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bamco Inc. NY boosted its position in shares of Kinsale Capital Group by 1.4% during the second quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock valued at $853,500,000 after purchasing an additional 24,936 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock valued at $288,657,000 after buying an additional 12,040 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kinsale Capital Group by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after buying an additional 25,428 shares in the last quarter. Riverbridge Partners LLC grew its position in shares of 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 buying an additional 29,053 shares during the period. Finally, Norges Bank bought a new position in shares of Kinsale Capital Group in the 2nd quarter worth about $125,812,000. Institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of recent research reports. Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 price objective on shares of Kinsale Capital Group in a research report on Friday, February 13th. Cantor Fitzgerald lowered their price objective on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, February 17th. Truist Financial cut their target price on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $441.91.

Kinsale Capital Group Stock Up 2.4%

Kinsale Capital Group stock opened at $382.15 on Friday. Kinsale Capital Group, Inc. has a 12 month low of $341.06 and a 12 month high of $512.76. The stock has a fifty day simple moving average of $393.67 and a two-hundred day simple moving average of $412.06. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.53 and a beta of 0.99.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data 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. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.The company had revenue of $483.27 million for the quarter, compared to analysts’ expectations of $467.66 million. During the same period last year, the firm posted $4.62 earnings per share. Equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Kinsale Capital Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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.