Kinsale Capital Group, Inc. $KNSL Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 79.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,143 shares of the financial services provider’s stock after selling 8,414 shares during the quarter. Federated Hermes Inc.’s holdings in Kinsale Capital Group were worth $911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Kinsale Capital Group during the third quarter worth about $43,000. Belpointe Asset Management LLC lifted its stake in Kinsale Capital Group by 2.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 2,680 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 74 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Kinsale Capital Group by 11.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,999 shares of the financial services provider’s stock worth $1,276,000 after purchasing an additional 315 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Kinsale Capital Group by 17.9% during the 3rd quarter. Covestor Ltd now owns 316 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 48 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Kinsale Capital Group by 9.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 14,231 shares of the financial services provider’s stock valued at $6,052,000 after purchasing an additional 1,278 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Up 1.1%

NYSE:KNSL opened at $414.87 on Friday. Kinsale Capital Group, Inc. has a 52 week low of $349.00 and a 52 week high of $512.76. The stock’s fifty day moving average is $392.19 and its two-hundred day moving average is $419.20. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

Kinsale Capital Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KNSL. Royal Bank Of Canada started coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. TD Cowen reduced their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Wells Fargo & Company initiated coverage on shares of Kinsale Capital Group in a report on Thursday, January 15th. They issued an “overweight” rating and a $490.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.