Townsquare Capital LLC Acquires 1,582 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Townsquare Capital LLC grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 33.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,317 shares of the financial services provider’s stock after acquiring an additional 1,582 shares during the period. Townsquare Capital LLC’s holdings in Kinsale Capital Group were worth $2,941,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KNSL. ORG Wealth Partners LLC purchased a new position in Kinsale Capital Group in the third quarter worth about $26,000. UMB Bank n.a. increased its position in shares of Kinsale Capital Group by 408.3% during the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Trust Co. of Vermont raised its holdings in Kinsale Capital Group by 113.6% during the 2nd 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 during the period. Signaturefd LLC raised its holdings in Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after buying an additional 42 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in 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 buying an additional 79 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Truist Financial reduced their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Royal Bank of Canada decreased their price target on 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $456.88.

Insider Transactions at Kinsale Capital Group

In other 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 value of $2,216,936.40. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Down 1.3 %

Shares of NYSE:KNSL opened at $508.44 on Friday. The business’s 50 day moving average is $466.06 and its 200 day moving average is $436.61. The stock has a market cap of $11.84 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.09. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. The firm 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 revenue was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.31 EPS. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.67 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

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.