Erste Asset Management GmbH Acquires New Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Erste Asset Management GmbH bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 39,991 shares of the financial services provider’s stock, valued at approximately $18,599,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in shares of Kinsale Capital Group by 249.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after buying an additional 3,818 shares during the period. Geneva Capital Management LLC lifted its stake in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares during the last quarter. Avior Wealth Management LLC raised its position in Kinsale Capital Group by 7,392.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,035 shares during the last quarter. Swedbank AB acquired a new stake in Kinsale Capital Group during the 2nd quarter worth $15,430,000. Finally, QRG Capital Management Inc. purchased a new position in Kinsale Capital Group during the 2nd quarter worth $503,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the business’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 $223,191.57. The trade was a 90.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on KNSL shares. Wolfe Research raised 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 note on Monday, October 28th. Truist Financial decreased their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. BMO Capital Markets boosted their price objective 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. Royal Bank of Canada reduced their target price on shares of 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. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $508.44 on Monday. The firm’s fifty day simple moving average is $466.06 and its 200-day simple moving average is $437.40. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock has a market cap of $11.84 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The firm’s revenue was up 33.0% on a year-over-year basis. Analysts expect that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued 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 of this dividend is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 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.