Keybank National Association OH Sells 479 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Posted by Defense World Staff on Aug 25th, 2023

Keybank National Association OH lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 40.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 703 shares of the financial services provider’s stock after selling 479 shares during the period. Keybank National Association OH’s holdings in Kinsale Capital Group were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. 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 valued at $524,835,000 after buying an additional 23,604 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kinsale Capital Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 2,225,632 shares of the financial services provider’s stock worth $507,488,000 after purchasing an additional 26,965 shares during the last quarter. State Street Corp raised its position in shares of Kinsale Capital Group by 0.9% in the 2nd quarter. State Street Corp now owns 719,852 shares of the financial services provider’s stock worth $165,307,000 after purchasing an additional 6,464 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Kinsale Capital Group by 5.8% in the 4th quarter. JPMorgan Chase & Co. now owns 497,722 shares of the financial services provider’s stock worth $130,165,000 after purchasing an additional 27,063 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Kinsale Capital Group by 107.7% in the 4th quarter. Morgan Stanley now owns 450,657 shares of the financial services provider’s stock worth $117,856,000 after purchasing an additional 233,687 shares during the last quarter. Institutional investors own 86.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on KNSL

Kinsale Capital Group Price Performance

NYSE KNSL opened at $375.93 on Friday. Kinsale Capital Group, Inc. has a 52 week low of $239.82 and a 52 week high of $393.20. The firm has a market capitalization of $8.71 billion, a P/E ratio of 38.17 and a beta of 0.90. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $371.34 and a 200-day moving average price of $334.45.

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

Kinsale Capital Group Dividend Announcement

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

Insider Activity

In other news, COO Brian D. Haney sold 2,500 shares of the company’s 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 sale, the chief operating officer now owns 68,331 shares of the company’s stock, valued at approximately $25,624,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Brian D. Haney sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $349.94, for a total transaction of $524,910.00. Following the completion of the transaction, the chief operating officer now directly owns 70,831 shares in the company, valued at approximately $24,786,600.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Brian D. Haney sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 68,331 shares of the company’s stock, valued at $25,624,125. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

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.