OLD National Bancorp IN Has $230,000 Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

OLD National Bancorp IN decreased its stake in Kinsale Capital Group, Inc. (NYSE:KNSLFree Report) by 35.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556 shares of the financial services provider’s stock after selling 306 shares during the quarter. OLD National Bancorp IN’s holdings in Kinsale Capital Group were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of KNSL. Quarry LP bought a new stake in shares of Kinsale Capital Group during the second quarter worth about $28,000. Penserra Capital Management LLC acquired a new stake in Kinsale Capital Group in the 2nd quarter worth $29,000. Lazard Asset Management LLC acquired a new stake in shares of Kinsale Capital Group during the 1st quarter valued at about $31,000. Emerald Advisers LLC acquired a new position in Kinsale Capital Group in the third quarter valued at about $33,000. Finally, Almanack Investment Partners LLC. acquired a new position in Kinsale Capital Group in the third quarter valued at about $33,000. Institutional investors and hedge funds own 83.68% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $506.19 on Friday. Kinsale Capital Group, Inc. has a 12 month low of $277.90 and a 12 month high of $548.47. The firm has a fifty day simple moving average of $443.43 and a 200 day simple moving average of $401.96. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 38.32 and a beta of 0.89. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17.

Kinsale Capital Group (NYSE:KNSLGet Free Report) last announced its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.43. The firm had revenue of $351.17 million during the quarter, compared to analysts’ expectations of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.60 earnings per share. Research analysts forecast that Kinsale Capital Group, Inc. will post 15.21 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio is presently 4.54%.

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial upped their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, BMO Capital Markets downgraded shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their target price for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $510.00.

Get Our Latest Analysis on Kinsale Capital Group

Kinsale Capital Group Company Profile

(Free Report)

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.

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

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