BNP Paribas Financial Markets Boosts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

BNP Paribas Financial Markets lifted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,403 shares of the financial services provider’s stock after buying an additional 689 shares during the quarter. BNP Paribas Financial Markets’ holdings in Kinsale Capital Group were worth $8,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can raised its holdings in Kinsale Capital Group by 54.4% in the third quarter. Bank of Montreal Can now owns 19,511 shares of the financial services provider’s stock worth $9,002,000 after purchasing an additional 6,876 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of Kinsale Capital Group by 11.7% in the 3rd quarter. Hancock Whitney Corp now owns 1,240 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 130 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Kinsale Capital Group by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after acquiring an additional 58,971 shares during the period. Swedbank AB boosted its stake in Kinsale Capital Group by 5.0% during the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock worth $19,582,000 after acquiring an additional 2,010 shares in the last quarter. Finally, Algert Global LLC grew its holdings in Kinsale Capital Group by 1.0% in the third quarter. Algert Global LLC now owns 11,601 shares of the financial services provider’s stock worth $5,401,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on KNSL. Truist Financial dropped their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. 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. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research report on Monday, October 28th. Royal Bank of Canada cut their price objective 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. Finally, BMO Capital Markets raised their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $456.88.

Kinsale Capital Group Price Performance

KNSL opened at $499.27 on Tuesday. The company’s 50-day simple moving average is $466.79 and its two-hundred day simple moving average is $438.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $11.63 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.16 and a beta of 1.09. 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, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 26.80% and a return on equity of 28.87%. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the company posted $3.31 earnings per share. As a group, analysts predict that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the 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 transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.60% of the company’s stock.

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.