Truist Financial Corp Has $2.63 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Truist Financial Corp decreased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 49.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,719 shares of the financial services provider’s stock after selling 6,655 shares during the period. Truist Financial Corp’s holdings in Kinsale Capital Group were worth $2,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KNSL. M&T Bank Corp boosted its position in Kinsale Capital Group by 2,621.6% in the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock valued at $35,638,000 after buying an additional 87,770 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in Kinsale Capital Group by 1,141.4% during the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock worth $39,546,000 after buying an additional 75,141 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Kinsale Capital Group by 7,444.2% during the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after buying an additional 37,221 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Kinsale Capital Group by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock worth $116,390,000 after buying an additional 35,864 shares during the last quarter. Finally, UBS Group AG raised its stake in Kinsale Capital Group by 44.6% during the fourth quarter. UBS Group AG now owns 97,012 shares of the financial services provider’s stock worth $37,943,000 after buying an additional 29,934 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 1.2%

Kinsale Capital Group stock opened at $303.23 on Wednesday. Kinsale Capital Group, Inc. has a fifty-two week low of $293.78 and a fifty-two week high of $512.76. The stock has a market cap of $6.99 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.97 and a beta of 0.95. The firm’s 50-day simple moving average is $345.12 and its 200 day simple moving average is $375.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the previous year, the firm posted $3.71 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts predict that Kinsale Capital Group, Inc. will post 20.58 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KNSL. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Morgan Stanley reissued an “equal weight” rating and set a $350.00 target price (down from $450.00) on shares of Kinsale Capital Group in a research note on Monday, April 6th. Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $392.00 to $312.00 in a report on Thursday, March 19th. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $420.00 to $357.00 in a report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $392.00.

Insiders Place Their Bets

In related news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.60% of the company’s stock.

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.