State of Tennessee Department of Treasury Sells 252 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

State of Tennessee Department of Treasury lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,936 shares of the financial services provider’s stock after selling 252 shares during the period. State of Tennessee Department of Treasury’s holdings in Kinsale Capital Group were worth $4,156,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Kinsale Capital Group by 34.4% during the 3rd quarter. Barclays PLC now owns 11,772 shares of the financial services provider’s stock worth $5,480,000 after acquiring an additional 3,014 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Kinsale Capital Group during the third quarter worth $398,000. Franklin Resources Inc. increased its holdings in shares of Kinsale Capital Group by 14.3% in the third quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider’s stock valued at $45,869,000 after purchasing an additional 12,125 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Kinsale Capital Group by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 521 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 148 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $265,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $420.13 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $531.79. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. 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 company’s 50 day simple moving average is $460.47 and its 200 day simple moving average is $463.07.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is 3.82%.

Analyst Ratings Changes

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

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.