Pitcairn Co. Sells 1,053 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Pitcairn Co. lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 42.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,430 shares of the financial services provider’s stock after selling 1,053 shares during the quarter. Pitcairn Co.’s holdings in Kinsale Capital Group were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Artemis Investment Management LLP purchased a new stake in shares of Kinsale Capital Group in the second quarter valued at approximately $25,476,000. Allspring Global Investments Holdings LLC raised its position in Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after purchasing an additional 57,460 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Kinsale Capital Group by 14.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after buying an additional 52,218 shares during the period. International Assets Investment Management LLC grew its position in shares of Kinsale Capital Group by 76,986.9% during the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock worth $21,892,000 after buying an additional 46,962 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Kinsale Capital Group during the second quarter valued at $15,430,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now owns 447 shares of the company’s stock, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KNSL. Jefferies Financial Group upped their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Truist Financial cut their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Royal Bank of Canada lowered their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets increased their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $506.90 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm has a market cap of $11.81 billion, a PE ratio of 28.90, a P/E/G ratio of 2.14 and a beta of 1.09. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The stock has a fifty day moving average price of $461.31 and a 200-day moving average price of $433.63.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same period last year, the business posted $3.31 earnings per share. Equities research analysts predict that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

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.