Bank of New York Mellon Corp Has $85.28 Million Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of New York Mellon Corp increased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,345 shares of the financial services provider’s stock after buying an additional 5,213 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kinsale Capital Group were worth $85,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Kinsale Capital Group during the third quarter worth about $272,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Kinsale Capital Group by 7.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,038 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 136 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Kinsale Capital Group by 7.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 2,551 shares of the financial services provider’s stock valued at $1,187,000 after buying an additional 170 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Kinsale Capital Group by 9.2% in the third quarter. Stephens Inc. AR now owns 926 shares of the financial services provider’s stock valued at $431,000 after buying an additional 78 shares in the last quarter. Finally, Americana Partners LLC increased its holdings in Kinsale Capital Group by 33.8% during the third quarter. Americana Partners LLC now owns 800 shares of the financial services provider’s stock worth $372,000 after buying an additional 202 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

KNSL opened at $432.20 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day simple moving average of $447.29 and a 200 day simple moving average of $463.95. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47. The company has a market capitalization of $10.07 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.82%.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. BMO Capital Markets lifted their price target on 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. dropped their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Morgan Stanley decreased their target price on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $468.56.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

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.