Swiss National Bank Trims Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Swiss National Bank cut its position in Kinsale Capital Group, Inc. (NYSE:KNSLGet Rating) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 51,062 shares of the financial services provider’s stock after selling 200 shares during the quarter. Swiss National Bank’s holdings in Kinsale Capital Group were worth $11,726,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in Kinsale Capital Group by 793.5% during the 2nd quarter. Lazard Asset Management LLC now owns 1,242 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 1,103 shares during the period. Shell Asset Management Co. lifted its stake in Kinsale Capital Group by 11.5% during the 2nd quarter. Shell Asset Management Co. now owns 2,702 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 279 shares during the period. Duality Advisers LP acquired a new stake in Kinsale Capital Group during the 2nd quarter valued at approximately $1,518,000. Oppenheimer & Co. Inc. lifted its stake in Kinsale Capital Group by 2.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 6,084 shares of the financial services provider’s stock valued at $1,397,000 after acquiring an additional 167 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of Kinsale Capital Group by 2.3% during the 2nd quarter. Texas Permanent School Fund now owns 15,564 shares of the financial services provider’s stock valued at $3,574,000 after purchasing an additional 357 shares in the last quarter. 84.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James Joseph Ritchie sold 738 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $314.35, for a total transaction of $231,990.30. Following the transaction, the director now owns 11,567 shares of the company’s stock, valued at approximately $3,636,086.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Kinsale Capital Group news, Director James Joseph Ritchie sold 738 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $314.35, for a total value of $231,990.30. Following the transaction, the director now owns 11,567 shares of the company’s stock, valued at $3,636,086.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Kehoe sold 3,500 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $308.01 on Friday. Kinsale Capital Group, Inc. has a 52-week low of $180.05 and a 52-week high of $334.99. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 50.74 and a beta of 0.86. The company has a fifty day simple moving average of $286.71 and a 200-day simple moving average of $256.46. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.20.

Kinsale Capital Group (NYSE:KNSLGet Rating) last released its earnings results on Thursday, October 27th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.22. Kinsale Capital Group had a net margin of 18.45% and a return on equity of 24.56%. The business had revenue of $216.96 million during the quarter, compared to analyst estimates of $214.02 million. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 7.32 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About Kinsale Capital Group

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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.

Further Reading

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

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