Prudential Financial Inc. Has $480,000 Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Prudential Financial Inc. cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,031 shares of the financial services provider's stock after selling 965 shares during the quarter. Prudential Financial Inc.'s holdings in Kinsale Capital Group were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB grew 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 acquiring an additional 64,900 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $22,933,000. DAVENPORT & Co LLC grew its position in shares of Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider's stock valued at $238,193,000 after purchasing an additional 44,931 shares during the period. Raymond James Financial Inc. bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $18,323,000. Finally, Wilkinson Global Asset Management LLC raised its holdings in Kinsale Capital Group by 913.9% during the 4th quarter. Wilkinson Global Asset Management LLC now owns 40,402 shares of the financial services provider's stock worth $18,792,000 after buying an additional 36,417 shares during the period. 85.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KNSL shares. Royal Bank of Canada reissued a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Truist Financial lifted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $468.56.

Kinsale Capital Group Price Performance

NYSE KNSL traded up $6.67 during midday trading on Tuesday, hitting $491.77. The company had a trading volume of 15,445 shares, compared to its average volume of 199,855. The firm has a 50-day moving average price of $459.15 and a 200-day moving average price of $462.42. The company has a market capitalization of $11.45 billion, a PE ratio of 27.64, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating analysts' consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders 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 dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio is 3.82%.

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.