Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560 shares of the financial services provider’s stock after selling 79 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Kinsale Capital Group were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KNSL. Norges Bank acquired a new position in shares of Kinsale Capital Group in the fourth quarter worth about $89,200,000. Alliancebernstein L.P. boosted its holdings in shares of Kinsale Capital Group by 486.3% in the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock worth $99,559,000 after buying an additional 177,540 shares during the period. Premier Fund Managers Ltd boosted its holdings in shares of Kinsale Capital Group by 20,286.0% in the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock worth $48,813,000 after buying an additional 104,270 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Kinsale Capital Group by 1,119.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock worth $32,885,000 after buying an additional 64,900 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Kinsale Capital Group in the fourth quarter worth about $22,933,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

KNSL stock opened at $452.92 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $10.56 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.66 and a beta of 1.29. The firm has a 50 day simple moving average of $465.55 and a 200 day simple moving average of $462.80. Kinsale Capital Group, Inc. has a 52 week low of $366.92 and a 52 week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping the consensus estimate of $3.15 by $0.56. The business had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $3.50 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a yield of 0.15%. The ex-dividend date is Thursday, May 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.91%.

Analysts Set New Price Targets

Several brokerages have commented on KNSL. Morgan Stanley raised their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a report on Monday, April 28th. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $484.57.

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.