M&T Bank Corp Boosts Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

M&T Bank Corp raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 43.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,672 shares of the financial services provider's stock after purchasing an additional 1,111 shares during the period. M&T Bank Corp's holdings in Kinsale Capital Group were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KNSL. Envestnet Asset Management Inc. lifted its stake in Kinsale Capital Group by 5.1% during the first quarter. Envestnet Asset Management Inc. now owns 173,778 shares of the financial services provider's stock worth $84,580,000 after purchasing an additional 8,372 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in Kinsale Capital Group during the first quarter worth approximately $42,000. OneDigital Investment Advisors LLC lifted its stake in Kinsale Capital Group by 42.0% during the first quarter. OneDigital Investment Advisors LLC now owns 821 shares of the financial services provider's stock worth $400,000 after purchasing an additional 243 shares during the last quarter. Moody Aldrich Partners LLC purchased a new stake in Kinsale Capital Group during the first quarter worth approximately $270,000. Finally, First Horizon Advisors Inc. lifted its stake in Kinsale Capital Group by 28.7% during the first quarter. First Horizon Advisors Inc. now owns 260 shares of the financial services provider's stock worth $127,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $6.96 during midday trading on Monday, hitting $486.78. The company had a trading volume of 29,010 shares, compared to its average volume of 180,917. The company's 50 day simple moving average is $468.84 and its 200 day simple moving average is $459.31. Kinsale Capital Group, Inc. has a 52-week low of $366.92 and a 52-week high of $531.79. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating 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 company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same period last year, the business posted $3.50 EPS. The company's revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.91%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KNSL. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. Truist Financial cut their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on 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. Finally, Morgan Stanley lifted their price target on 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $491.88.

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.