Prudential PLC Sells 7,847 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Prudential PLC decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 50.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,700 shares of the financial services provider’s stock after selling 7,847 shares during the period. Prudential PLC’s holdings in Kinsale Capital Group were worth $2,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KNSL. Cim LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth $1,934,000. Axiom Investors LLC DE grew its stake in Kinsale Capital Group by 116.3% during the fourth quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock worth $14,781,000 after buying an additional 23,728 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Kinsale Capital Group by 113.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock valued at $2,148,000 after buying an additional 2,172 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Kinsale Capital Group by 129.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock valued at $14,814,000 after buying an additional 24,992 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Kinsale Capital Group by 249.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after buying an additional 3,818 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KNSL shares. JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. TD Cowen initiated coverage on Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price target on the stock. Oppenheimer assumed coverage on Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Truist Financial lifted their target price on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their target price on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $443.38.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $454.84 on Thursday. The stock has a 50-day moving average price of $441.68 and a two-hundred day moving average price of $437.89. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The company has a market capitalization of $10.59 billion, a PE ratio of 30.22, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same period last year, the company earned $2.88 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Analysts expect that Kinsale Capital Group, Inc. will post 15.31 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a $0.15 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

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.