Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.7% in the fourth quarter, HoldingsChannel reports. The firm owned 721 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. OLD National Bancorp IN’s holdings in Kinsale Capital Group were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Royal London Asset Management Ltd. lifted its stake in shares of Kinsale Capital Group by 4,798.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after purchasing an additional 240,668 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after buying an additional 198,129 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Kinsale Capital Group by 33,266.0% in the fourth quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock valued at $59,896,000 after purchasing an additional 178,306 shares during the period. Invesco Ltd. grew its holdings in shares of Kinsale Capital Group by 15.4% in the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock valued at $287,435,000 after purchasing an additional 92,496 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Kinsale Capital Group by 32.6% in the third quarter. Envestnet Asset Management Inc. now owns 109,822 shares of the financial services provider’s stock valued at $45,481,000 after purchasing an additional 27,015 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Down 1.2 %

Shares of KNSL opened at $453.09 on Friday. The stock has a market capitalization of $10.51 billion, a PE ratio of 34.30 and a beta of 0.89. Kinsale Capital Group, Inc. has a 1 year low of $297.33 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12. The company’s 50-day simple moving average is $494.22 and its 200-day simple moving average is $416.33.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.43. The business had revenue of $351.17 million for the quarter, compared to analysts’ expectations of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The business’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.60 earnings per share. Analysts forecast that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a $0.15 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. This represents a $0.60 annualized dividend and a yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.54%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Truist Financial upped their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price of $510.00.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at $159,199,255.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now directly owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

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.