Kinsale Capital Group, Inc. (NYSE:KNSL) Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,957 shares of the financial services provider’s stock after selling 705 shares during the period. Mutual of America Capital Management LLC’s holdings in Kinsale Capital Group were worth $5,567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in Kinsale Capital Group by 249.2% in the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 3,818 shares during the last quarter. Geneva Capital Management LLC grew its holdings in shares of Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after acquiring an additional 5,207 shares during the last quarter. Swedbank AB acquired a new stake in shares of Kinsale Capital Group during the second quarter worth $15,430,000. QRG Capital Management Inc. purchased a new stake in shares of Kinsale Capital Group during the second quarter valued at $503,000. Finally, Bridges Investment Management Inc. acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $642,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KNSL. JPMorgan Chase & Co. cut their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research report on Monday, October 28th. Royal Bank of Canada decreased their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Jefferies Financial Group boosted their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Truist Financial decreased their target price on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $455.88.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $469.45 on Wednesday. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.00 and a beta of 1.09. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $458.27 and a 200 day simple moving average of $430.07.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business’s revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.31 EPS. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

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.