Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 630,236 shares of the financial services provider’s stock after selling 5,783 shares during the period. Kinsale Capital Group makes up approximately 0.6% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 18th biggest holding. Thrivent Financial for Lutherans owned 2.71% of Kinsale Capital Group worth $293,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Kinsale Capital Group by 1.3% in the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after buying an additional 8,954 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after acquiring an additional 44,931 shares during the period. DF Dent & Co. Inc. raised its holdings in shares of Kinsale Capital Group by 3.0% during the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock worth $105,505,000 after purchasing an additional 6,679 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kinsale Capital Group by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider’s stock worth $85,279,000 after purchasing an additional 5,213 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $457.63 on Tuesday. The stock has a market capitalization of $10.65 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.66 and a beta of 1.25. The company’s fifty day moving average price is $444.13 and its 200 day moving average price is $460.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $536.84.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (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 analyst estimates of $418.32 million. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s payout ratio is 3.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KNSL shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Morgan Stanley decreased their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. BMO Capital Markets upped their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. Finally, Truist Financial lifted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $468.56.

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.