South Dakota Investment Council Acquires New Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

South Dakota Investment Council acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,671 shares of the financial services provider's stock, valued at approximately $4,579,000. South Dakota Investment Council owned 0.06% of Kinsale Capital Group at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Anchor Investment Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $25,000. Emerald Advisers LLC purchased a new stake in Kinsale Capital Group in the 3rd quarter worth approximately $33,000. Beacon Capital Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $33,000. Milestone Investment Advisors LLC purchased a new stake in Kinsale Capital Group in the 3rd quarter worth approximately $58,000. Finally, Operose Advisors LLC purchased a new stake in Kinsale Capital Group in the 3rd quarter worth approximately $60,000. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded down $5.77 on Wednesday, hitting $458.59. 151,930 shares of the company traded hands, compared to its average volume of 182,499. The company has a market cap of $10.63 billion, a P/E ratio of 34.72 and a beta of 0.89. The firm's 50-day simple moving average is $493.92 and its 200 day simple moving average is $416.07. Kinsale Capital Group, Inc. has a 12-month low of $297.33 and a 12-month high of $548.47. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Friday, February 16th. The financial services provider reported $3.87 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.43. The company had revenue of $351.17 million for the quarter, compared to analysts' expectations 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 last year, the company earned $2.60 EPS. Analysts expect that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.14. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.54%.

Insider Buying and Selling

In related news, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the firm's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company's stock, valued at approximately $159,199,255.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

About Kinsale Capital Group

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.