South Dakota Investment Council Sells 157 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

South Dakota Investment Council lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,663 shares of the financial services provider’s stock after selling 157 shares during the quarter. South Dakota Investment Council’s holdings in Kinsale Capital Group were worth $2,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its position in Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock valued at $320,957,000 after acquiring an additional 8,954 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Kinsale Capital Group by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after purchasing an additional 29,686 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Kinsale Capital Group by 9.6% during the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after purchasing an additional 44,931 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the last quarter. Finally, DF Dent & Co. Inc. lifted its holdings in shares of Kinsale Capital Group by 3.0% during the 3rd quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock valued at $105,505,000 after purchasing an additional 6,679 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $428.74 on Monday. The stock has a 50-day simple moving average of $452.64 and a two-hundred day simple moving average of $465.46. The firm has a market capitalization of $9.99 billion, a P/E ratio of 24.10, a PEG ratio of 1.66 and a beta of 1.15. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The business had revenue of $412.12 million during 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, equities 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 announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.37%.

Insider Activity

In related news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on KNSL shares. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. Truist Financial increased their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, 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. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group 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.