Texas Permanent School Fund Corp Has $10.11 Million Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Texas Permanent School Fund Corp grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,267 shares of the financial services provider’s stock after buying an additional 250 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Kinsale Capital Group worth $10,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Kinsale Capital Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock worth $700,127,000 after acquiring an additional 30,729 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at about $196,358,000. DAVENPORT & Co LLC increased its position in shares of Kinsale Capital Group by 0.4% in the first quarter. DAVENPORT & Co LLC now owns 327,664 shares of the financial services provider’s stock valued at $173,095,000 after acquiring an additional 1,286 shares during the last quarter. Riverbridge Partners LLC increased its position in Kinsale Capital Group by 25.4% during the first quarter. Riverbridge Partners LLC now owns 311,664 shares of the financial services provider’s stock worth $163,543,000 after buying an additional 63,141 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Kinsale Capital Group by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock worth $97,572,000 after buying an additional 15,718 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock traded down $0.25 during mid-day trading on Friday, hitting $381.58. 3,410 shares of the stock were exchanged, compared to its average volume of 184,091. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The company has a 50-day simple moving average of $385.38 and a 200 day simple moving average of $422.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $8.88 billion, a P/E ratio of 25.32 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The company had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter last year, the business posted $2.44 EPS. Kinsale Capital Group’s quarterly revenue was up 41.7% compared to the same quarter last year. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 14.93 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.16%. The ex-dividend date was Friday, May 31st. Kinsale Capital Group’s payout ratio is 3.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KNSL shares. Truist Financial decreased their target price on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday. BMO Capital Markets cut their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Oppenheimer began coverage on Kinsale Capital Group in a research note on Friday. They issued a “market perform” rating for the company. Finally, Compass Point cut their target price on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $434.00.

About Kinsale Capital Group

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.