CIBC Private Wealth Group LLC Cuts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

CIBC Private Wealth Group LLC decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,303 shares of the financial services provider’s stock after selling 5,889 shares during the period. CIBC Private Wealth Group LLC owned about 0.83% of Kinsale Capital Group worth $89,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in Kinsale Capital Group during the 4th quarter valued at about $31,000. Larson Financial Group LLC raised its stake in Kinsale Capital Group by 7,400.0% in the fourth quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Allworth Financial LP boosted its holdings in Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 72 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Kinsale Capital Group in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 0.9 %

Shares of KNSL opened at $482.17 on Monday. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.66 and a beta of 1.25. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79. The stock’s 50-day moving average price is $452.38 and its 200-day moving average price is $461.01. 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 (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping the consensus estimate of $4.23 by $0.39. The business had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.14%. Kinsale Capital Group’s payout ratio is presently 3.82%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Morgan Stanley reduced their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Profile

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.