Kornitzer Capital Management Inc. KS decreased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 20.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,130 shares of the financial services provider’s stock after selling 4,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kinsale Capital Group were worth $4,883,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Alps Advisors Inc. lifted its position in Kinsale Capital Group by 16.6% in the third quarter. Alps Advisors Inc. now owns 1,598 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 227 shares during the last quarter. Legacies Wealth LLC purchased a new position in shares of Kinsale Capital Group during the third quarter worth about $53,000. Kestra Advisory Services LLC grew its holdings in shares of Kinsale Capital Group by 262.8% during the third quarter. Kestra Advisory Services LLC now owns 3,817 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 2,765 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Kinsale Capital Group by 97.8% during the third quarter. Chicago Partners Investment Group LLC now owns 1,258 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 622 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Kinsale Capital Group by 23.1% during the third quarter. Covestor Ltd now owns 261 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 49 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.
Kinsale Capital Group Stock Down 0.1%
KNSL opened at $383.32 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $421.90. The stock has a market capitalization of $8.63 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.16 and a beta of 0.81. The business has a 50 day simple moving average of $358.59 and a 200-day simple moving average of $352.00.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $5.70 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.59. The firm had revenue of $454.80 million for the quarter, compared to the consensus estimate of $401.43 million. Kinsale Capital Group had a net margin of 26.89% and a return on equity of 25.73%. During the same quarter in the previous year, the firm earned $5.21 earnings per share. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 21.98 earnings per share for the current fiscal year.
Kinsale Capital Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.36%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on KNSL shares. Morgan Stanley reduced their price objective on Kinsale Capital Group from $390.00 to $350.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Wells Fargo & Company decreased their price objective on Kinsale Capital Group from $377.00 to $348.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Citigroup restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, October 23rd. Weiss Ratings raised shares of Kinsale Capital Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Cantor Fitzgerald lifted their target price on shares of Kinsale Capital Group from $264.00 to $285.00 and gave the company a “neutral” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $352.88.
Read Our Latest Stock Analysis on KNSL
About Kinsale Capital Group
Kinsale Capital Group, Inc is a specialty insurance company focused on the excess and surplus lines market. Through its insurance subsidiaries, the company provides coverage for commercial risks that may be difficult to place in the standard insurance market.
Its products include commercial property and casualty insurance, along with specialty coverages such as professional liability, excess liability, inland marine, and environmental insurance. Kinsale serves businesses and insurance brokers across the United States.
Founded in 2009 and headquartered in Richmond, Virginia, Kinsale was established by Michael P.
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