PNC Financial Services Group Inc. Sells 1,073 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

PNC Financial Services Group Inc. trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,181 shares of the financial services provider’s stock after selling 1,073 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kinsale Capital Group were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its holdings in Kinsale Capital Group by 249.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares during the period. Geneva Capital Management LLC raised its position in shares of Kinsale Capital Group by 1.3% during the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares during the last quarter. Swedbank AB bought a new stake in shares of Kinsale Capital Group in the second quarter valued at about $15,430,000. QRG Capital Management Inc. bought a new stake in shares of Kinsale Capital Group in the second quarter valued at about $503,000. Finally, Bridges Investment Management Inc. acquired a new stake in Kinsale Capital Group during the second quarter worth about $642,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KNSL. BMO Capital Markets upped their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Jefferies Financial Group upped their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Truist Financial lowered their price target 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. Finally, Wolfe Research raised shares of 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Insider Activity at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction that occurred on 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 owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $512.04 on Wednesday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.14 and a beta of 1.09. The firm’s 50-day moving average price is $462.44 and its two-hundred day moving average price is $434.56. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period in the prior year, the company earned $3.31 EPS. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. 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.