Lazard Asset Management LLC Increases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Lazard Asset Management LLC raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSLGet Rating) by 793.5% during the second quarter, Holdings Channel.com reports. The firm owned 1,242 shares of the financial services provider’s stock after purchasing an additional 1,103 shares during the quarter. Lazard Asset Management LLC’s holdings in Kinsale Capital Group were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in KNSL. Prudential Financial Inc. boosted its holdings in Kinsale Capital Group by 1,489.6% in the 1st quarter. Prudential Financial Inc. now owns 104,327 shares of the financial services provider’s stock valued at $23,788,000 after purchasing an additional 97,764 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Kinsale Capital Group by 60.3% in the 1st quarter. Principal Financial Group Inc. now owns 228,226 shares of the financial services provider’s stock valued at $52,040,000 after purchasing an additional 85,879 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Kinsale Capital Group by 70.8% in the 2nd quarter. Loomis Sayles & Co. L P now owns 189,571 shares of the financial services provider’s stock valued at $43,533,000 after purchasing an additional 78,608 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in Kinsale Capital Group by 130.9% in the 2nd quarter. Lisanti Capital Growth LLC now owns 74,268 shares of the financial services provider’s stock valued at $17,055,000 after purchasing an additional 42,103 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Kinsale Capital Group by 67.4% in the 1st quarter. Capital International Investors now owns 82,000 shares of the financial services provider’s stock valued at $18,698,000 after purchasing an additional 33,007 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

Kinsale Capital Group Price Performance

KNSL stock opened at $308.01 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.20. Kinsale Capital Group, Inc. has a 12-month low of $180.05 and a 12-month high of $334.99. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 50.74 and a beta of 0.86. The firm has a 50 day moving average of $286.71 and a 200-day moving average of $256.46.

Kinsale Capital Group (NYSE:KNSLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.22. Kinsale Capital Group had a return on equity of 24.56% and a net margin of 18.45%. The firm had revenue of $216.96 million during the quarter, compared to the consensus estimate of $214.02 million. As a group, equities analysts expect that Kinsale Capital Group, Inc. will post 7.32 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Wednesday, November 30th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.17%. Kinsale Capital Group’s dividend payout ratio is currently 8.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KNSL shares. Royal Bank of Canada lifted their price objective on Kinsale Capital Group from $275.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Compass Point lifted their price target on shares of Kinsale Capital Group to $335.00 in a research report on Friday, November 4th. StockNews.com initiated coverage on shares of Kinsale Capital Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Truist Financial lifted their price target on shares of Kinsale Capital Group from $285.00 to $335.00 in a research report on Monday, October 31st.

Insider Buying and Selling

In related news, CEO Michael P. Kehoe sold 3,500 shares of Kinsale Capital Group stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $317.16, for a total transaction of $1,110,060.00. Following the completion of the transaction, the chief executive officer now directly owns 313,441 shares in the company, valued at approximately $99,410,947.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kinsale Capital Group news, Director James Joseph Ritchie sold 738 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $314.35, for a total value of $231,990.30. Following the completion of the transaction, the director now directly owns 11,567 shares in the company, valued at approximately $3,636,086.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Kehoe sold 3,500 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $317.16, for a total value of $1,110,060.00. Following the completion of the transaction, the chief executive officer now owns 313,441 shares of the company’s stock, valued at $99,410,947.56. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.

Kinsale Capital Group Profile

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Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.

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Institutional Ownership by Quarter for Kinsale Capital Group (NYSE:KNSL)

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