State of Tennessee Department of Treasury Sells 252 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

State of Tennessee Department of Treasury reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,936 shares of the financial services provider’s stock after selling 252 shares during the period. State of Tennessee Department of Treasury’s holdings in Kinsale Capital Group were worth $4,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC boosted its position in Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock worth $9,310,000 after buying an additional 4,644 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Kinsale Capital Group by 11.8% during the fourth quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock worth $18,299,000 after purchasing an additional 4,146 shares during the period. Empowered Funds LLC bought a new stake in shares of Kinsale Capital Group in the fourth quarter worth $1,071,000. Charles Schwab Investment Management Inc. increased its holdings in Kinsale Capital Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock valued at $70,907,000 after purchasing an additional 3,970 shares during the period. Finally, Argent Capital Management LLC bought a new position in Kinsale Capital Group during the 4th quarter worth $1,736,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Trading Down 16.3 %

NYSE:KNSL opened at $420.13 on Friday. Kinsale Capital Group, Inc. has a 12 month low of $355.12 and a 12 month high of $531.79. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.66 and a beta of 1.16. The firm has a fifty day simple moving average of $460.47 and a two-hundred day simple moving average of $463.07.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.16%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.82%.

Wall Street Analyst Weigh In

A number of research firms have commented on KNSL. Truist Financial upped their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Finally, JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.