Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,759 shares of the financial services provider's stock after acquiring an additional 1,435 shares during the period. New York State Common Retirement Fund owned about 0.08% of Kinsale Capital Group worth $8,643,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake 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 worth $93,000 after acquiring an additional 21 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of 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 worth $683,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Kinsale Capital Group by 2.1% in the 1st quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock valued at $627,000 after purchasing an additional 27 shares during the last quarter. Strategic Advisors LLC lifted its holdings in shares of Kinsale Capital Group by 0.6% in the 1st quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock valued at $2,568,000 after purchasing an additional 30 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Kinsale Capital Group by 0.7% in the 1st quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock valued at $2,188,000 after purchasing an additional 30 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $659,856.00. Following the transaction, the executive vice president owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.50% of the company's stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $479.76 on Friday. The stock has a market capitalization of $11.18 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.78 and a beta of 1.19. Kinsale Capital Group, Inc. has a 12-month low of $366.92 and a 12-month high of $531.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11. The firm's 50-day moving average is $471.44 and its two-hundred day moving average is $459.95.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The business had revenue of $423.40 million for the quarter, compared to analysts' expectations of $425.73 million. During the same quarter last year, the firm earned $3.50 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Equities analysts predict 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 announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a $0.17 dividend. This represents a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.91%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Truist Financial dropped their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Morgan Stanley upped their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and an average target price of $491.88.

Kinsale Capital Group Company 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.

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