Guggenheim Capital LLC Sells 1,072 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Guggenheim Capital LLC trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 44.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,351 shares of the financial services provider's stock after selling 1,072 shares during the quarter. Guggenheim Capital LLC's holdings in Kinsale Capital Group were worth $628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $89,200,000. Alliancebernstein L.P. raised its position in shares of Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock worth $99,559,000 after purchasing an additional 177,540 shares during the period. Premier Fund Managers Ltd boosted its position in Kinsale Capital Group by 20,286.0% during the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after purchasing an additional 104,270 shares during the period. Handelsbanken Fonder AB lifted its stake in Kinsale Capital Group by 1,119.0% in the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock valued at $32,885,000 after buying an additional 64,900 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Kinsale Capital Group in the 4th quarter valued at about $22,933,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.1 %

Shares of NYSE KNSL traded up $0.36 during mid-day trading on Wednesday, reaching $434.96. 319,901 shares of the company traded hands, compared to its average volume of 173,311. The company's fifty day moving average is $460.09 and its two-hundred day moving average is $462.30. Kinsale Capital Group, Inc. has a fifty-two week low of $364.46 and a fifty-two week high of $531.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $10.12 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.56. The business had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. Kinsale Capital Group's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $3.50 earnings per share. On average, analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.16%. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group's payout ratio is presently 3.91%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KNSL shares. Morgan Stanley cut their target price on Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their price target 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Truist Financial reduced their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $473.75.

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.