Ascent Group LLC Acquires 723 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Ascent Group LLC lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,585 shares of the financial services provider’s stock after purchasing an additional 723 shares during the period. Ascent Group LLC’s holdings in Kinsale Capital Group were worth $3,531,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its position in Kinsale Capital Group by 249.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares during the period. Geneva Capital Management LLC increased its position in shares of Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after buying an additional 5,207 shares during the period. Avior Wealth Management LLC raised its stake in Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after buying an additional 1,035 shares during the last quarter. Swedbank AB acquired a new position in Kinsale Capital Group in the second quarter valued at $15,430,000. Finally, QRG Capital Management Inc. bought a new stake in Kinsale Capital Group during the second quarter valued at $503,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KNSL. BMO Capital Markets lifted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Royal Bank of Canada lowered their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Jefferies Financial Group boosted their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $456.88.

Insider Buying and Selling

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the transaction, the director now owns 447 shares in the company, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Trading Down 1.4 %

Shares of Kinsale Capital Group stock opened at $508.44 on Monday. The stock has a market capitalization of $11.84 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The stock has a 50 day moving average price of $466.06 and a two-hundred day moving average price of $437.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter last year, the firm posted $3.31 EPS. Kinsale Capital Group’s revenue was up 33.0% compared to the same quarter last year. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s payout ratio is presently 3.42%.

About Kinsale Capital Group

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.