Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,684 shares of the financial services provider’s stock after selling 13,291 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.52% of Kinsale Capital Group worth $54,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of 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 worth $246,810,000 after buying an additional 29,686 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after buying an additional 1,035 shares during the period. Geneva Capital Management LLC lifted its stake in shares of Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after buying an additional 5,207 shares during the period. Swedbank AB lifted its stake in shares of Kinsale Capital Group by 5.0% during the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock worth $19,582,000 after buying an additional 2,010 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kinsale Capital Group by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider’s stock worth $69,126,000 after buying an additional 3,469 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KNSL has been the subject of several research reports. 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 for the company in a research note on Monday, October 28th. BMO Capital Markets boosted their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Truist Financial decreased 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 report on Tuesday, January 14th. Morgan Stanley started coverage on shares of Kinsale Capital Group in a research report on Thursday, December 5th. They set an “overweight” rating and a $593.00 target price for the company. Finally, Wolfe Research upgraded shares of 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 report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $468.89.

Kinsale Capital Group Stock Up 2.0 %

KNSL opened at $486.34 on Friday. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $548.47. 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 company has a fifty day moving average of $461.29 and a two-hundred day moving average of $465.57. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.82 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. On average, research analysts expect that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.14%. Kinsale Capital Group’s payout ratio is presently 3.42%.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock valued at $3,618,954 over the last 90 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.