Kinsale Capital Group, Inc. $KNSL Holdings Decreased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,169 shares of the financial services provider's stock after selling 1,590 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.08% of Kinsale Capital Group worth $8,843,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hancock Whitney Corp lifted its position in Kinsale Capital Group by 4.3% during the first quarter. Hancock Whitney Corp now owns 1,314 shares of the financial services provider's stock valued at $640,000 after purchasing an additional 54 shares during the last quarter. AQR Capital Management LLC increased its position in Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after purchasing an additional 361 shares during the period. Ancora Advisors LLC bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $49,000. First Manhattan CO. LLC. boosted its holdings in shares of Kinsale Capital Group by 401.4% in the 1st quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider's stock valued at $97,961,000 after buying an additional 161,132 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Kinsale Capital Group by 64.3% during the 1st quarter. Royal Bank of Canada now owns 125,723 shares of the financial services provider's stock valued at $61,189,000 after acquiring an additional 49,223 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Morgan Stanley upped their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Truist Financial boosted their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Compass Point boosted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group Price Performance

NYSE:KNSL traded down $15.88 during trading hours on Wednesday, hitting $426.42. The company's stock had a trading volume of 326,688 shares, compared to its average volume of 183,187. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a market capitalization of $9.94 billion, a PE ratio of 22.24, a PEG ratio of 1.63 and a beta of 1.13. The business's 50-day moving average is $460.77 and its two-hundred day moving average is $461.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The business had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. During the same quarter last year, the business posted $3.75 earnings per share. The business's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's payout ratio is currently 3.55%.

About Kinsale Capital Group

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.