UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,254 shares of the financial services provider’s stock after selling 6,911 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of Kinsale Capital Group worth $31,311,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KNSL. Fiduciary Trust Co acquired a new position in Kinsale Capital Group during the third quarter worth approximately $233,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kinsale Capital Group by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,982 shares of the financial services provider’s stock valued at $1,854,000 after buying an additional 223 shares during the period. Hardy Reed LLC acquired a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $213,000. Townsquare Capital LLC raised its position in shares of Kinsale Capital Group by 33.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,317 shares of the financial services provider’s stock worth $2,941,000 after buying an additional 1,582 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Kinsale Capital Group by 4.1% in the third quarter. BNP Paribas Financial Markets now owns 17,403 shares of the financial services provider’s stock valued at $8,102,000 after acquiring an additional 689 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’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 owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KNSL. Jefferies Financial Group raised their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their price objective on shares of 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. BMO Capital Markets raised 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 note on Thursday, November 21st. Finally, Royal Bank of Canada lowered their price target on 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. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $497.79 on Thursday. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The firm’s fifty day moving average price is $468.76 and its 200 day moving average price is $439.39.

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

Kinsale Capital Group Announces Dividend

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

Kinsale Capital Group Company 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.