Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 8.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,939 shares of the financial services provider’s stock after selling 387 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kinsale Capital Group were worth $1,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. increased its stake in shares of Kinsale Capital Group by 15.4% during the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock worth $109,362,000 after acquiring an additional 198,129 shares during the period. Royal London Asset Management Ltd. grew its position in Kinsale Capital Group by 4,798.0% during the third quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock worth $101,692,000 after buying an additional 240,668 shares during the period. Bank of New York Mellon Corp grew its position in Kinsale Capital Group by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 217,546 shares of the financial services provider’s stock worth $90,092,000 after buying an additional 1,018 shares during the period. Finally, Copeland Capital Management LLC grew its position in Kinsale Capital Group by 4.6% during the fourth quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock worth $67,363,000 after buying an additional 8,803 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KNSL shares. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Royal Bank of Canada upped their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research report 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 stock a “buy” rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $510.00.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the 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 sale, the director now owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $374.64 on Friday. The company’s fifty day simple moving average is $491.62 and its 200-day simple moving average is $415.88. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.69 billion, a PE ratio of 28.36 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The business had revenue of $372.79 million for the quarter, compared to the consensus estimate of $366.45 million. During the same quarter last year, the firm posted $2.44 EPS. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.26 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.16%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.54%.

Kinsale Capital Group Company 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.