Amalgamated Bank Lowers Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Amalgamated Bank decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,225 shares of the financial services provider’s stock after selling 1,143 shares during the quarter. Amalgamated Bank’s holdings in Kinsale Capital Group were worth $5,226,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KNSL. Jackson Square Partners LLC bought a new stake in Kinsale Capital Group in the 1st quarter worth about $48,035,000. Champlain Investment Partners LLC grew its holdings in shares of Kinsale Capital Group by 58.9% in the first quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock valued at $127,761,000 after acquiring an additional 90,209 shares in the last quarter. Natixis Investment Managers International purchased a new stake in shares of Kinsale Capital Group during the first quarter valued at approximately $35,850,000. Artemis Investment Management LLP bought a new stake in Kinsale Capital Group during the second quarter worth $25,476,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after purchasing an additional 57,460 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KNSL shares. JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada lowered 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 report on Monday, October 28th. Truist Financial reduced their target price on shares of 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. Oppenheimer began coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Finally, Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group Trading Down 0.7 %

Shares of KNSL stock opened at $448.26 on Friday. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.83 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 debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day simple moving average is $459.08 and its two-hundred day simple moving average is $426.90.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results 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. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same quarter in the previous year, the firm earned $3.31 EPS. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 15.48 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 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.