RiverPark Advisors LLC Cuts Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

RiverPark Advisors LLC reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 56.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 513 shares of the financial services provider's stock after selling 667 shares during the quarter. RiverPark Advisors LLC's holdings in Kinsale Capital Group were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of KNSL. LPL Financial LLC raised its holdings in Kinsale Capital Group by 29.4% in the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares during the last quarter. California Public Employees Retirement System raised its holdings in Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock valued at $18,299,000 after buying an additional 4,146 shares during the last quarter. Empowered Funds LLC bought a new position in Kinsale Capital Group in the 4th quarter valued at approximately $1,071,000. Charles Schwab Investment Management Inc. raised its holdings in Kinsale Capital Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock valued at $70,907,000 after buying an additional 3,970 shares during the last quarter. Finally, Argent Capital Management LLC bought a new position in Kinsale Capital Group in the 4th quarter valued at approximately $1,736,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Up 0.2 %

KNSL stock traded up $1.03 during midday trading on Tuesday, reaching $425.22. 51,308 shares of the company's stock traded hands, compared to its average volume of 175,808. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.66 and a beta of 1.16. The firm's fifty day moving average price is $460.12 and its 200-day moving average price is $462.69. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The firm 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%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.50 EPS. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analysts Set New Price Targets

KNSL has been the subject of a number of research reports. Morgan Stanley dropped their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a report on Monday. Royal Bank of Canada reiterated 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. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Finally, Truist Financial lowered their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and a consensus target price of $464.44.

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.