New York State Teachers Retirement System Has $6.50 Million Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Posted by Defense World Staff on Jul 22nd, 2023

New York State Teachers Retirement System increased its position in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,644 shares of the financial services provider’s stock after buying an additional 200 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Kinsale Capital Group worth $6,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in KNSL. Bank of Montreal Can boosted its holdings in Kinsale Capital Group by 5.1% in the first quarter. Bank of Montreal Can now owns 1,663 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 80 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Kinsale Capital Group by 119.7% during the 1st quarter. Panagora Asset Management Inc. now owns 3,219 shares of the financial services provider’s stock worth $734,000 after buying an additional 1,754 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Kinsale Capital Group by 2.5% during the 1st quarter. Rhumbline Advisers now owns 58,459 shares of the financial services provider’s stock worth $13,330,000 after buying an additional 1,422 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Kinsale Capital Group by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,861 shares of the financial services provider’s stock worth $1,792,000 after buying an additional 749 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Kinsale Capital Group by 1.0% during the 1st quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock worth $524,835,000 after buying an additional 23,604 shares in the last quarter. 86.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 3,500 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $322.69, for a total transaction of $1,129,415.00. Following the transaction, the chief executive officer now directly owns 309,689 shares in the company, valued at approximately $99,933,543.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael P. Kehoe sold 3,500 shares of Kinsale Capital Group stock in a transaction on Friday, May 5th. The stock was sold at an average price of $322.69, for a total transaction of $1,129,415.00. Following the sale, the chief executive officer now directly owns 309,689 shares in the company, valued at approximately $99,933,543.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction on Friday, April 28th. The stock was sold at an average price of $341.63, for a total value of $854,075.00. Following the sale, the chief operating officer now owns 72,331 shares in the company, valued at $24,710,439.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock worth $4,428,670. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KNSL. BMO Capital Markets upgraded Kinsale Capital Group from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $270.00 to $389.00 in a report on Friday, June 2nd. StockNews.com started coverage on Kinsale Capital Group in a report on Thursday, May 18th. They set a “hold” rating on the stock. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $300.00 to $340.00 in a report on Thursday, July 6th. Finally, Jefferies Financial Group increased their target price on Kinsale Capital Group from $313.00 to $315.00 and gave the stock a “hold” rating in a report on Monday, April 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $359.00.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $382.55 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $348.58 and its two-hundred day simple moving average is $323.39. Kinsale Capital Group, Inc. has a 1-year low of $223.46 and a 1-year high of $387.41. The stock has a market cap of $8.86 billion, a PE ratio of 48.42 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last issued its quarterly earnings data on Friday, April 28th. The financial services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.20. Kinsale Capital Group had a return on equity of 28.34% and a net margin of 20.44%. The business had revenue of $299.03 million for the quarter, compared to analysts’ expectations of $252.84 million. During the same period last year, the business earned $1.63 EPS. The business’s revenue was up 38.1% on a year-over-year basis. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 10.65 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Tuesday, May 30th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 7.09%.

Kinsale Capital Group Profile

(Free Report)

Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.