Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 42.4% in the third quarter, HoldingsChannel reports. The firm owned 1,430 shares of the financial services provider’s stock after selling 1,053 shares during the period. Pitcairn Co.’s holdings in Kinsale Capital Group were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KNSL. ORG Wealth Partners LLC acquired a new stake in shares of Kinsale Capital Group during the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its position in Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after buying an additional 49 shares during the period. Trust Co. of Vermont increased its holdings in Kinsale Capital Group by 113.6% in the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after buying an additional 50 shares in the last quarter. Signaturefd LLC raised its position in shares of Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 42 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 79 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Up 1.6 %

NYSE KNSL opened at $506.90 on Tuesday. The business has a fifty day moving average price of $461.31 and a 200 day moving average price of $433.63. 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 market cap of $11.81 billion, a P/E ratio of 28.90, a P/E/G ratio of 2.14 and a beta of 1.09. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.31 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

Analyst Ratings Changes

KNSL has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Wolfe Research upgraded 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 report on Monday, October 28th. Truist Financial decreased their target price on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada cut their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Finally, Jefferies Financial Group increased their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $456.88.

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.