Congress Asset Management Co. Grows Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Congress Asset Management Co. raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,234 shares of the financial services provider's stock after buying an additional 4,385 shares during the period. Congress Asset Management Co. owned about 0.24% of Kinsale Capital Group worth $26,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in Kinsale Capital Group by 11.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 21 shares during the period. Coldstream Capital Management Inc. increased its holdings in Kinsale Capital Group by 1.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after buying an additional 25 shares during the period. Fielder Capital Group LLC raised its stake in Kinsale Capital Group by 5.5% in the fourth quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider's stock worth $277,000 after buying an additional 31 shares in the last quarter. CIBC Asset Management Inc raised its stake in Kinsale Capital Group by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 716 shares of the financial services provider's stock worth $333,000 after buying an additional 36 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Kinsale Capital Group by 1.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,250 shares of the financial services provider's stock worth $1,512,000 after buying an additional 38 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada reiterated a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $484.57.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the transaction, the executive vice president now owns 6,646 shares of the company's stock, valued at $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Performance

KNSL stock traded down $11.84 during trading on Monday, reaching $464.29. The company had a trading volume of 274,353 shares, compared to its average volume of 172,173. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.20. Kinsale Capital Group, Inc. has a twelve month low of $366.92 and a twelve month high of $531.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a 50-day simple moving average of $464.47 and a 200-day simple moving average of $463.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (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 firm had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same period in the prior year, the firm earned $3.50 EPS. The firm's revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a dividend yield of 0.15%. The ex-dividend date is Thursday, May 29th. Kinsale Capital Group's payout ratio is 3.91%.

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.