State of Alaska Department of Revenue reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,701 shares of the financial services provider’s stock after selling 290 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kinsale Capital Group were worth $1,010,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in KNSL. Venturi Wealth Management LLC lifted its stake in Kinsale Capital Group by 51.4% during the 2nd quarter. Venturi Wealth Management LLC now owns 380 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 129 shares in the last quarter. Creative Planning grew its position in Kinsale Capital Group by 23.0% in the 2nd quarter. Creative Planning now owns 1,829 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 342 shares in the last quarter. SkyOak Wealth LLC increased its stake in Kinsale Capital Group by 6.7% in the 2nd quarter. SkyOak Wealth LLC now owns 892 shares of the financial services provider’s stock valued at $334,000 after buying an additional 56 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $222,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Kinsale Capital Group in the 2nd quarter worth approximately $311,000. 83.68% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
KNSL has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Kinsale Capital Group from $395.00 to $420.00 in a research note on Friday, October 6th. BMO Capital Markets boosted their target price on shares of Kinsale Capital Group from $415.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th. StockNews.com initiated coverage on shares of Kinsale Capital Group in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Truist Financial upped their price objective on Kinsale Capital Group from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Wolfe Research began coverage on Kinsale Capital Group in a research note on Thursday, September 21st. They issued an “outperform” rating and a $521.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.00.
Kinsale Capital Group Trading Up 1.4 %
Shares of Kinsale Capital Group stock opened at $445.14 on Tuesday. The company’s 50-day moving average price is $404.67 and its 200-day moving average price is $365.18. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.22. Kinsale Capital Group, Inc. has a 12-month low of $250.90 and a 12-month high of $447.90. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 45.19 and a beta of 0.88.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.40. The firm had revenue of $295.77 million during the quarter, compared to the consensus estimate of $282.01 million. Kinsale Capital Group had a return on equity of 29.11% and a net margin of 22.60%. During the same quarter last year, the company posted $1.92 EPS. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 11.64 earnings per share for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Monday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 5.69%.
Insider Transactions at Kinsale Capital Group
In related news, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $376.82, for a total value of $1,507,280.00. Following the completion of the sale, the chief executive officer now owns 307,117 shares in the company, valued at approximately $115,727,827.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Kinsale Capital Group news, Director Robert V. Hatcher III sold 195 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $409.02, for a total value of $79,758.90. Following the transaction, the director now directly owns 1,086 shares of the company’s stock, valued at approximately $444,195.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $376.82, for a total value of $1,507,280.00. Following the sale, the chief executive officer now directly owns 307,117 shares of the company’s stock, valued at approximately $115,727,827.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,695 shares of company stock valued at $2,208,939. Insiders own 6.00% of the company’s stock.
About Kinsale Capital Group
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.
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