HighTower Advisors LLC Grows Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

HighTower Advisors LLC raised its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 68.9% during the third quarter, HoldingsChannel.com reports. The firm owned 9,999 shares of the financial services provider’s stock after purchasing an additional 4,078 shares during the period. HighTower Advisors LLC’s holdings in Kinsale Capital Group were worth $4,619,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Centiva Capital LP purchased a new stake in shares of Kinsale Capital Group in the third quarter worth approximately $1,074,000. Ascent Group LLC boosted its holdings in Kinsale Capital Group by 10.5% during the 3rd quarter. Ascent Group LLC now owns 7,585 shares of the financial services provider’s stock valued at $3,531,000 after acquiring an additional 723 shares during the period. Benjamin Edwards Inc. grew its position in Kinsale Capital Group by 236.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 898 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 631 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Kinsale Capital Group in the third quarter worth $623,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Kinsale Capital Group during the third quarter worth $18,599,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 3.8 %

Shares of NYSE KNSL opened at $502.30 on Wednesday. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The stock’s fifty day simple moving average is $472.15 and its two-hundred day simple moving average is $442.44. The stock has a market capitalization of $11.70 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.31 earnings per share. As a group, analysts expect that Kinsale Capital Group, Inc. will post 15.61 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Insider Activity at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on KNSL shares. Truist Financial cut their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group raised their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lowered their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Finally, Morgan Stanley began coverage on Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $472.00.

Kinsale Capital Group Company 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.