Nomura Asset Management Co. Ltd. Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Nomura Asset Management Co. Ltd. bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 579 shares of the financial services provider’s stock, valued at approximately $270,000.

A number of other large investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in Kinsale Capital Group during the 3rd quarter worth approximately $26,000. UMB Bank n.a. raised its holdings in shares of Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Signaturefd LLC lifted its position in Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 79 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Kinsale Capital Group during the 3rd quarter worth about $55,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $506.73 on Monday. The stock has a market capitalization of $11.80 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.19 and a beta of 1.13. The company’s fifty day moving average price is $474.35 and its 200 day moving average price is $445.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.31 earnings per share. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KNSL shares. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. Truist Financial decreased their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. BMO Capital Markets raised their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Morgan Stanley began coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and an average price target of $472.00.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,235 shares of company stock valued at $3,618,954 over the last quarter. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group 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.