Allspring Global Investments Holdings LLC Cuts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Allspring Global Investments Holdings LLC trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,479 shares of the financial services provider's stock after selling 64,624 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.40% of Kinsale Capital Group worth $31,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KNSL. Anchor Investment Management LLC acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. Quarry LP bought a new stake in Kinsale Capital Group during the 2nd quarter worth about $28,000. Lazard Asset Management LLC acquired a new position in Kinsale Capital Group during the 1st quarter valued at about $31,000. Emerald Advisers LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $33,000. Finally, Beacon Capital Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Insider Transactions at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the transaction, the director now directly owns 887 shares of the company's stock, valued at approximately $464,867.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael P. Kehoe sold 4,000 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now directly owns 887 shares of the company's stock, valued at $464,867.83. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Kinsale Capital Group Stock Down 0.4 %

KNSL stock traded down $1.87 during mid-day trading on Friday, hitting $450.96. 114,061 shares of the company were exchanged, compared to its average volume of 167,728. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group, Inc. has a 1-year low of $297.33 and a 1-year high of $548.47. The firm's 50 day simple moving average is $486.84 and its 200 day simple moving average is $414.06. The firm has a market cap of $10.46 billion, a P/E ratio of 34.14 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.43. The company had revenue of $351.17 million during the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The firm's revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.26 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group's payout ratio is 4.54%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Royal Bank of Canada raised their target price on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. Truist Financial increased their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a "buy" rating in a research report on Tuesday, February 20th. Finally, BMO Capital Markets downgraded shares of Kinsale Capital Group from an "outperform" rating to a "market perform" rating and upped their target price for the company from $434.00 to $544.00 in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $510.00.

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.