Zions Bancorporation National Association UT Purchases New Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Zions Bancorporation National Association UT acquired 6,739 shares of Kinsale Capital Group, valued at approximately $3.28 million, in the first quarter.
• Insider transactions revealed that EVP Diane D. Schnupp sold 1,398 shares for $659,856, indicating a 17.38% decrease in her position.
• Recent analyst ratings show increased price targets for Kinsale Capital Group, with Morgan Stanley raising its target from $490 to $525, reflecting positive sentiment among analysts.

Zions Bancorporation National Association UT acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,739 shares of the financial services provider's stock, valued at approximately $3,280,000.

A number of other hedge funds have also recently added to or reduced their stakes in KNSL. GAMMA Investing LLC lifted its stake in Kinsale Capital Group by 59,220.7% in the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after buying an additional 308,540 shares during the last quarter. Madison Asset Management LLC bought a new stake in shares of Kinsale Capital Group during the first quarter valued at about $76,235,000. GW&K Investment Management LLC raised its stake in shares of Kinsale Capital Group by 46.6% during the first quarter. GW&K Investment Management LLC now owns 166,866 shares of the financial services provider's stock valued at $81,215,000 after purchasing an additional 53,064 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Kinsale Capital Group by 105.9% during the fourth quarter. Ameriprise Financial Inc. now owns 89,253 shares of the financial services provider's stock valued at $41,509,000 after purchasing an additional 45,896 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Kinsale Capital Group by 261.8% during the first quarter. Natixis Advisors LLC now owns 58,914 shares of the financial services provider's stock valued at $28,674,000 after purchasing an additional 42,630 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Trading Up 2.1%

KNSL traded up $9.09 during trading on Wednesday, reaching $446.54. The company had a trading volume of 92,581 shares, compared to its average volume of 206,400. The firm's 50-day simple moving average is $468.37 and its 200 day simple moving average is $462.77. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.61 and a beta of 1.12. Kinsale Capital Group, Inc. has a 12-month low of $405.00 and a 12-month high of $531.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

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

Kinsale Capital Group Announces Dividend

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

Insiders Place Their Bets

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group 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 transaction, the executive vice president owned 6,646 shares of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KNSL. Compass Point lifted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Cantor Fitzgerald began coverage on shares of Kinsale Capital Group in a research note on Tuesday. They set a "neutral" rating and a $500.00 price objective on the stock. Bank of America began coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. Truist Financial lifted their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets boosted their price target 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $505.80.

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.