Truist Financial Corp Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Truist Financial Corp decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,127 shares of the financial services provider’s stock after selling 938 shares during the period. Truist Financial Corp owned 0.05% of Kinsale Capital Group worth $5,641,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Kinsale Capital Group during the 4th quarter valued at about $25,000. Allworth Financial LP increased its position in Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 72 shares during the period. UMB Bank n.a. grew its position in shares of Kinsale Capital Group by 67.2% in the 4th quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Signaturefd LLC grew its position in shares of Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares during the last quarter. Finally, Mather Group LLC. grew its position in shares of Kinsale Capital Group by 43.6% in the 4th quarter. Mather Group LLC. now owns 168 shares of the financial services provider’s stock worth $78,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 2.9 %

KNSL stock opened at $428.74 on Friday. The firm has a 50 day moving average of $452.64 and a 200 day moving average of $465.39. The stock has a market capitalization of $9.99 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.16%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KNSL. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their price objective on shares of 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. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $468.56.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the transaction, the director now directly owns 7,348 shares of the company’s stock, valued at $3,672,456.92. The trade was a 23.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

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.