Allspring Global Investments Holdings LLC Has $62.38 Million Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Allspring Global Investments Holdings LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 75.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,975 shares of the financial services provider’s stock after purchasing an additional 57,460 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.58% of Kinsale Capital Group worth $62,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Kinsale Capital Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock valued at $700,127,000 after acquiring an additional 30,729 shares during the period. Ballentine Partners LLC acquired a new position in Kinsale Capital Group in the first quarter valued at about $283,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Kinsale Capital Group by 7.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,056 shares of the financial services provider’s stock worth $1,079,000 after buying an additional 150 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of Kinsale Capital Group in the first quarter valued at approximately $257,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Kinsale Capital Group in the 1st quarter worth approximately $266,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 0.9 %

Shares of NYSE KNSL opened at $468.92 on Tuesday. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The firm has a market capitalization of $10.91 billion, a P/E ratio of 31.16, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The company’s 50 day simple moving average is $470.04 and its 200 day simple moving average is $427.59.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The company had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same quarter in the prior year, the business posted $2.88 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts predict that Kinsale Capital Group, Inc. will post 15.31 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.99%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KNSL shares. Wolfe Research cut Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday, September 16th. Jefferies Financial Group lifted their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Truist Financial boosted their target price on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Oppenheimer assumed coverage on shares of Kinsale Capital Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $446.00.

About Kinsale Capital Group

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.