Royal Bank of Canada Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Royal Bank of Canada lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,500 shares of the financial services provider's stock after selling 53,967 shares during the quarter. Royal Bank of Canada owned approximately 0.33% of Kinsale Capital Group worth $35,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KNSL. Barclays PLC increased its position in shares of Kinsale Capital Group by 34.4% during the 3rd quarter. Barclays PLC now owns 11,772 shares of the financial services provider's stock valued at $5,480,000 after purchasing an additional 3,014 shares during the last quarter. HB Wealth Management LLC bought a new position in Kinsale Capital Group during the fourth quarter worth about $247,000. Diversify Wealth Management LLC raised its position in shares of Kinsale Capital Group by 49.3% in the fourth quarter. Diversify Wealth Management LLC now owns 1,048 shares of the financial services provider's stock valued at $487,000 after purchasing an additional 346 shares during the period. UMB Bank n.a. lifted its stake in shares of Kinsale Capital Group by 67.2% during the 4th quarter. UMB Bank n.a. now owns 102 shares of the financial services provider's stock valued at $47,000 after buying an additional 41 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Kinsale Capital Group by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider's stock valued at $267,000 after acquiring an additional 25 shares during the period. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $3.23 during trading hours on Wednesday, reaching $470.85. The company had a trading volume of 15,967 shares, compared to its average volume of 170,418. Kinsale Capital Group, Inc. has a 1-year low of $366.92 and a 1-year high of $531.79. The firm has a market cap of $10.98 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. The business's 50 day moving average price is $466.32 and its 200-day moving average price is $463.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The company had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 earnings per share. Research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KNSL shares. Morgan Stanley lifted their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered 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. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Truist Financial reduced their target price on shares of 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and an average price target of $484.57.

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.