Amalgamated Bank Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Amalgamated Bank lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,183 shares of the financial services provider’s stock after selling 42 shares during the period. Amalgamated Bank’s holdings in Kinsale Capital Group were worth $5,202,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in KNSL. Bank of New York Mellon Corp increased its stake in Kinsale Capital Group by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider’s stock valued at $85,279,000 after buying an additional 5,213 shares during the last quarter. Blackhawk Capital Partners LLC. grew its holdings in shares of Kinsale Capital Group by 12.0% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 4,174 shares of the financial services provider’s stock valued at $1,941,000 after acquiring an additional 447 shares in the last quarter. Synergy Financial Group LTD increased its position in shares of Kinsale Capital Group by 2.1% during the fourth quarter. Synergy Financial Group LTD now owns 2,499 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 51 shares during the last quarter. IFP Advisors Inc increased its position in shares of Kinsale Capital Group by 812.7% during the fourth quarter. IFP Advisors Inc now owns 2,291 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 2,040 shares during the last quarter. Finally, Transcend Capital Advisors LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth $296,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KNSL shares. Morgan Stanley reduced 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. BMO Capital Markets raised 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 report on Thursday, November 21st. JMP Securities reiterated 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 shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group has an average rating of “Hold” and a consensus price target of $468.56.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Up 2.9 %

KNSL opened at $428.84 on Friday. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $548.47. 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 business has a 50 day simple moving average of $447.97 and a two-hundred day simple moving average of $464.33. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.66 and a beta of 1.16.

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

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is 3.82%.

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.