Swiss National Bank Has $14.22 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Posted by Defense World Staff on Aug 24th, 2023

Swiss National Bank reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,362 shares of the financial services provider’s stock after selling 5,200 shares during the period. Swiss National Bank owned approximately 0.20% of Kinsale Capital Group worth $14,216,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kinsale Capital Group in the first quarter valued at approximately $1,978,000. Tower Research Capital LLC TRC lifted its holdings in Kinsale Capital Group by 7.3% in the first quarter. Tower Research Capital LLC TRC now owns 828 shares of the financial services provider’s stock valued at $249,000 after buying an additional 56 shares during the period. GW&K Investment Management LLC lifted its holdings in Kinsale Capital Group by 1.2% in the first quarter. GW&K Investment Management LLC now owns 217,744 shares of the financial services provider’s stock valued at $65,356,000 after buying an additional 2,525 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Kinsale Capital Group by 0.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,772 shares of the financial services provider’s stock worth $2,933,000 after purchasing an additional 78 shares during the period. Finally, Hanlon Investment Management Inc. acquired a new stake in Kinsale Capital Group in the first quarter worth $318,000. 86.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kinsale Capital Group

In related news, COO Brian D. Haney sold 2,500 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $375.00, for a total value of $937,500.00. Following the completion of the transaction, the chief operating officer now owns 68,331 shares of the company’s stock, valued at $25,624,125. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Brian D. Haney sold 1,500 shares of Kinsale Capital Group stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $349.94, for a total value of $524,910.00. Following the completion of the transaction, the chief operating officer now owns 70,831 shares of the company’s stock, valued at approximately $24,786,600.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Brian D. Haney sold 2,500 shares of Kinsale Capital Group stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $375.00, for a total transaction of $937,500.00. Following the completion of the transaction, the chief operating officer now directly owns 68,331 shares of the company’s stock, valued at approximately $25,624,125. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on KNSL. Truist Financial increased their target price on shares of Kinsale Capital Group from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, July 31st. StockNews.com began coverage on shares of Kinsale Capital Group in a report on Wednesday. They issued a “hold” rating on the stock. Royal Bank of Canada increased their target price on shares of Kinsale Capital Group from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. BMO Capital Markets upgraded shares of Kinsale Capital Group from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $270.00 to $389.00 in a report on Friday, June 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $300.00 to $340.00 in a report on Thursday, July 6th. Three 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, the stock has an average rating of “Moderate Buy” and an average price target of $379.83.

View Our Latest Analysis on KNSL

Kinsale Capital Group Stock Up 2.0 %

Shares of KNSL stock opened at $379.11 on Thursday. The firm has a fifty day moving average of $370.82 and a 200-day moving average of $333.83. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.22. Kinsale Capital Group, Inc. has a 12-month low of $239.82 and a 12-month high of $393.20. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 38.49 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.40. The company had revenue of $295.77 million during the quarter, compared to the consensus estimate of $282.01 million. Kinsale Capital Group had a net margin of 22.60% and a return on equity of 29.11%. During the same quarter in the prior year, the firm earned $1.92 earnings per share. As a group, equities research analysts predict that Kinsale Capital Group, Inc. will post 11.53 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Monday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 5.69%.

Kinsale Capital Group Company 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.