State of New Jersey Common Pension Fund D Sells 770 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Kinsale Capital Group by 9.3%, now holding 7,552 shares valued at approximately $3,676,000.
• Research analysts have upgraded their price targets for Kinsale Capital Group, with Morgan Stanley increasing theirs from $490.00 to $525.00 and Truist Financial raising it from $500.00 to $560.00.
• Kinsale Capital Group reported earnings of $4.78 per share for the last quarter, surpassing expectations and marking a year-over-year revenue increase of 22.2%.

State of New Jersey Common Pension Fund D trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,552 shares of the financial services provider's stock after selling 770 shares during the period. State of New Jersey Common Pension Fund D's holdings in Kinsale Capital Group were worth $3,676,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Nations Financial Group Inc. IA ADV increased its holdings in shares of Kinsale Capital Group by 4.8% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 1,672 shares of the financial services provider's stock valued at $814,000 after acquiring an additional 77 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Kinsale Capital Group by 13.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 225,186 shares of the financial services provider's stock worth $109,589,000 after acquiring an additional 26,282 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at $540,000. Nuveen LLC acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at $38,487,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of Kinsale Capital Group in the first quarter valued at $1,394,000. 85.36% of the stock is currently owned by institutional investors.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction dated Thursday, June 5th. The stock was 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 owned 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.50% of the company's stock.

Analyst Ratings Changes

KNSL has been the subject of several analyst reports. Bank of America initiated coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Compass Point upped their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Truist Financial upped their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets upped their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Price Performance

KNSL stock traded down $4.8520 during midday trading on Friday, reaching $454.2080. 110,420 shares of the company's stock traded hands, compared to its average volume of 206,581. The company has a 50-day simple moving average of $466.15 and a two-hundred day simple moving average of $462.99. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.67 and a beta of 1.12. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, beating the consensus estimate 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 company had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. During the same period last year, the firm earned $3.75 EPS. The business's revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.1%. Kinsale Capital Group's dividend payout ratio is currently 3.55%.

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.