Swiss National Bank Lowers Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• The Swiss National Bank reduced its holdings in Kinsale Capital Group by 1.6%, now owning approximately 42,862 shares valued at $20.86 million.
• Several other institutional investors have increased their stakes in Kinsale Capital, with Bridges Investment Management Inc. boosting its position by 111.5% during the same quarter.
• Kinsale Capital Group reported a $4.78 EPS for the last quarter, exceeding expectations, along with a 22.2% year-over-year revenue growth totaling $458.70 million.

Swiss National Bank lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,862 shares of the financial services provider's stock after selling 700 shares during the quarter. Swiss National Bank owned approximately 0.18% of Kinsale Capital Group worth $20,861,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Key Financial Inc boosted its position in Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after purchasing an additional 41 shares during the period. N.E.W. Advisory Services LLC bought a new position in Kinsale Capital Group during the first quarter worth about $31,000. NBC Securities Inc. bought a new position in Kinsale Capital Group during the first quarter worth about $35,000. von Borstel & Associates Inc. bought a new position in Kinsale Capital Group during the first quarter worth about $42,000. Finally, Anderson Financial Strategies LLC bought a new position in Kinsale Capital Group during the fourth quarter worth about $54,000. Institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KNSL. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Compass Point increased their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Truist Financial increased their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Morgan Stanley increased their target price 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. Finally, BMO Capital Markets increased their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded down $10.21 on Friday, reaching $443.47. The stock had a trading volume of 245,972 shares, compared to its average volume of 207,694. 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 $10.33 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The business's 50 day moving average is $467.69 and its two-hundred day moving average is $462.77.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The business had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. Kinsale Capital Group's quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted $3.75 earnings per share. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a $0.17 dividend. This represents a yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Insiders Place Their Bets

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 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 through the SEC website. 5.50% of the stock is owned by corporate insiders.

Kinsale Capital Group 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.