Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Swiss National Bank

Swiss National Bank decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,262 shares of the financial services provider’s stock after selling 300 shares during the quarter. Swiss National Bank’s holdings in Kinsale Capital Group were worth $20,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RiverPark Advisors LLC increased its stake in shares of Kinsale Capital Group by 3.6% in the 3rd quarter. RiverPark Advisors LLC now owns 1,180 shares of the financial services provider’s stock worth $549,000 after acquiring an additional 41 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Kinsale Capital Group in the third quarter valued at about $241,000. Zions Bancorporation N.A. increased its position in Kinsale Capital Group by 18.7% during the third quarter. Zions Bancorporation N.A. now owns 5,351 shares of the financial services provider’s stock worth $2,491,000 after purchasing an additional 842 shares during the last quarter. Huntington National Bank raised its stake in Kinsale Capital Group by 55.1% during the third quarter. Huntington National Bank now owns 318 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 113 shares during the period. Finally, KBC Group NV boosted its holdings in Kinsale Capital Group by 11.0% in the 3rd quarter. KBC Group NV now owns 584 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KNSL shares. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Royal Bank of Canada cut their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. 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 research note on Thursday. Truist Financial cut their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, 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 report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $456.88.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $491.58 on Friday. The stock has a 50-day simple moving average of $458.87 and a 200-day simple moving average of $431.02. The stock has a market capitalization of $11.45 billion, a PE ratio of 27.71, a PEG ratio of 2.02 and a beta of 1.09. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. 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 (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million for 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%. Kinsale Capital Group’s quarterly revenue was up 33.0% on a year-over-year basis. During the same period last year, the firm earned $3.31 earnings per share. On average, analysts predict that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

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.