Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,445 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Kinsale Capital Group were worth $2,857,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $33,000. Beacon Capital Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $33,000. Quarry LP purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $40,000. Finally, Principal Securities Inc. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $44,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at approximately $35,247,879. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Up 0.3 %

Shares of NYSE:KNSL opened at $382.64 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $385.84 and a two-hundred day moving average of $420.86. The stock has a market cap of $8.91 billion, a P/E ratio of 25.42 and a beta of 1.06. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. The company had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. On average, research analysts expect that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on KNSL. BMO Capital Markets cut their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. TD Cowen initiated coverage on Kinsale Capital Group in a research report on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Compass Point dropped their price target on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, Truist Financial dropped their price target on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus target price of $434.00.

Kinsale Capital Group Company 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.