Zions Bancorporation National Association UT Buys Shares of 6,739 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 bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,739 shares of the financial services provider's stock, valued at approximately $3,280,000.

Several other large investors also recently modified their holdings of KNSL. DAVENPORT & Co LLC boosted its position in Kinsale Capital Group by 6.2% during the 1st quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock valued at $263,233,000 after acquiring an additional 31,480 shares in the last quarter. Geneva Capital Management LLC boosted its position in Kinsale Capital Group by 0.6% during the 1st quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider's stock valued at $197,294,000 after acquiring an additional 2,449 shares in the last quarter. GAMMA Investing LLC boosted its position in Kinsale Capital Group by 59,220.7% during the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after acquiring an additional 308,540 shares in the last quarter. Northern Trust Corp boosted its position in Kinsale Capital Group by 16.8% during the 4th quarter. Northern Trust Corp now owns 216,616 shares of the financial services provider's stock valued at $100,755,000 after acquiring an additional 31,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Kinsale Capital Group by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 198,904 shares of the financial services provider's stock valued at $92,519,000 after acquiring an additional 4,380 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Truist Financial boosted their price target on 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 boosted 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. Finally, BMO Capital Markets boosted their price target on 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. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus price target of $506.44.

Insider Activity

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded down $2.20 during mid-day trading on Monday, reaching $436.67. 232,830 shares of the company's stock traded hands, compared to its average volume of 213,047. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The firm has a 50 day moving average price of $469.11 and a two-hundred day moving average price of $462.95. The firm has a market capitalization of $10.17 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. 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 announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The company 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 for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned $3.75 EPS. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a dividend yield of 15.0%. The ex-dividend date was Thursday, May 29th. 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.