Summit Investment Advisors Inc. Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Summit Investment Advisors Inc. decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,431 shares of the financial services provider’s stock after selling 108 shares during the period. Summit Investment Advisors Inc.’s holdings in Kinsale Capital Group were worth $2,061,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KNSL. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Kinsale Capital Group in the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $31,000. Larson Financial Group LLC increased its position in shares of Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 74 shares during the last quarter. Allworth Financial LP raised its holdings in Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after buying an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KNSL shares. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley dropped their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Truist Financial lifted their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Price Performance

KNSL stock opened at $484.96 on Tuesday. The business’s 50-day moving average is $459.15 and its two-hundred day moving average is $462.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $11.29 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is 3.82%.

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.