Arizona State Retirement System Increases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Arizona State Retirement System boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,421 shares of the financial services provider’s stock after acquiring an additional 53 shares during the quarter. Arizona State Retirement System’s holdings in Kinsale Capital Group were worth $2,987,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth $25,000. Bank of Jackson Hole Trust purchased a new stake in Kinsale Capital Group during the 4th quarter worth $31,000. Allworth Financial LP lifted its holdings in Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after buying an additional 72 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Kinsale Capital Group in the 4th quarter valued at about $46,000. Finally, UMB Bank n.a. grew its stake in shares of Kinsale Capital Group by 67.2% during the fourth quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the topic of several recent analyst reports. Morgan Stanley cut their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Truist Financial upped their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group has an average rating of “Hold” and an average price target of $468.56.

Insider Activity 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 owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $445.94 on Monday. The company has a market cap of $10.38 billion, a PE ratio of 25.07, a P/E/G ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $536.84. The firm has a 50-day simple moving average of $443.99 and a 200 day simple moving average of $462.37. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 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.