Barclays PLC Purchases 3,014 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Barclays PLC grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 34.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,772 shares of the financial services provider’s stock after acquiring an additional 3,014 shares during the quarter. Barclays PLC’s holdings in Kinsale Capital Group were worth $5,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kinsale Capital Group Stock Performance

KNSL stock opened at $466.31 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The business has a 50-day moving average price of $475.83 and a 200 day moving average price of $448.29. The company has a market capitalization of $10.86 billion, a P/E ratio of 26.59, a PEG ratio of 2.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09.

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

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given 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 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KNSL shares. BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their target price on 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. Morgan Stanley initiated coverage on Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price target on the stock. Wolfe Research upgraded 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. Finally, Truist Financial reduced their target price on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $472.00.

Insider Activity

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 7,235 shares of company stock worth $3,618,954. 5.60% of the stock is currently owned by company insiders.

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.