Fifth Third Bancorp Reduces Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Fifth Third Bancorp reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 495 shares of the financial services provider’s stock after selling 80 shares during the period. Fifth Third Bancorp’s holdings in Kinsale Capital Group were worth $230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in Kinsale Capital Group in the third quarter valued at $26,000. UMB Bank n.a. lifted its position in shares of Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Signaturefd LLC grew its stake in Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Kinsale Capital Group during the third quarter valued at approximately $55,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s 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 in the company, valued at $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,235 shares of company stock worth $3,618,954. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KNSL shares. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Truist Financial lowered their target price on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $468.89.

Kinsale Capital Group Trading Up 0.5 %

Shares of KNSL stock opened at $442.55 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47. The firm has a market capitalization of $10.31 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The stock has a fifty day moving average of $467.20 and a two-hundred day moving average of $459.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s payout ratio is 3.42%.

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.