Bank of Montreal Can Cuts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of Montreal Can trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,644 shares of the financial services provider's stock after selling 6,867 shares during the quarter. Bank of Montreal Can owned approximately 0.05% of Kinsale Capital Group worth $5,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KNSL. LPL Financial LLC grew 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 acquiring an additional 4,644 shares during the last quarter. California Public Employees Retirement System grew 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 last quarter. Empowered Funds LLC acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $1,071,000. Charles Schwab Investment Management Inc. raised its holdings in Kinsale Capital Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock valued at $70,907,000 after buying an additional 3,970 shares during the last quarter. Finally, Argent Capital Management LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth approximately $1,736,000. Institutional investors own 85.36% of the company's stock.

Wall Street Analyst Weigh In

KNSL has been the topic of several analyst reports. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Truist Financial lifted their price objective on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and an average target price of $468.56.

Kinsale Capital Group Stock Up 0.7 %

NYSE:KNSL traded up $3.36 on Friday, hitting $487.01. The stock had a trading volume of 88,133 shares, compared to its average volume of 175,069. The company has a market cap of $11.34 billion, a PE ratio of 27.38, a P/E/G ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79. The business's fifty day moving average is $459.06 and its 200 day moving average is $462.94. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.39. The company had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, equities research 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. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.14%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.82%.

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.