Everence Capital Management Inc. acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 570 shares of the financial services provider’s stock, valued at approximately $265,000.
Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in shares of Kinsale Capital Group by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after purchasing an additional 6,331 shares during the period. State Street Corp lifted its holdings in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after buying an additional 8,954 shares during the period. Geode Capital Management LLC boosted its position in Kinsale Capital Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Kinsale Capital Group by 1.3% during 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 period. Finally, Copeland Capital Management LLC raised its position in shares of Kinsale Capital Group by 0.3% in the 3rd quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock worth $107,687,000 after acquiring an additional 685 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Morgan Stanley assumed coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They set an “overweight” rating and a $593.00 target price on the stock. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research note on Monday, October 28th. Royal Bank of Canada cut their target price 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. BMO Capital Markets upped their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $471.11.
Kinsale Capital Group Price Performance
Shares of NYSE KNSL opened at $420.54 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The firm’s 50-day simple moving average is $475.28 and its 200 day simple moving average is $454.68. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.16 and a beta of 1.16. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $548.47.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. Kinsale Capital Group’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.31 earnings per share. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.
Insider Activity at Kinsale Capital Group
In related news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,235 shares of company stock valued at $3,618,954 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.
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.
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