New York State Common Retirement Fund Sells 9,289 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

New York State Common Retirement Fund trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 30.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,307 shares of the financial services provider's stock after selling 9,289 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Kinsale Capital Group worth $7,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in Kinsale Capital Group by 1.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider's stock worth $643,000 after buying an additional 29 shares in the last quarter. Pearl River Capital LLC grew its holdings in Kinsale Capital Group by 5.2% in the 3rd quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider's stock worth $250,000 after buying an additional 30 shares in the last quarter. Blackhawk Capital Partners LLC. grew its holdings in Kinsale Capital Group by 1.1% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider's stock worth $889,000 after buying an additional 30 shares in the last quarter. Fifth Third Bancorp grew its holdings in Kinsale Capital Group by 7.2% in the 3rd quarter. Fifth Third Bancorp now owns 479 shares of the financial services provider's stock worth $198,000 after buying an additional 32 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in Kinsale Capital Group by 17.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 231 shares of the financial services provider's stock worth $77,000 after buying an additional 35 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on KNSL shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday. BMO Capital Markets decreased their price target on Kinsale Capital Group from $544.00 to $453.00 and set a "market perform" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the company a "neutral" rating in a research note on Monday, February 26th. Truist Financial decreased their price target on Kinsale Capital Group from $600.00 to $440.00 and set a "buy" rating for the company in a research note on Monday. Finally, Compass Point decreased their price target on Kinsale Capital Group from $490.00 to $390.00 and set a "neutral" rating for the company in a research note on Monday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $438.43.

Kinsale Capital Group Stock Up 2.5 %

Shares of NYSE:KNSL traded up $9.29 during midday trading on Friday, hitting $382.40. 208,497 shares of the stock were exchanged, compared to its average volume of 204,208. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group, Inc. has a 52-week low of $297.33 and a 52-week high of $548.47. The business's fifty day simple moving average is $478.52 and its two-hundred day simple moving average is $413.48. The company has a market capitalization of $8.87 billion, a PE ratio of 25.41 and a beta of 0.98.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same period last year, the company earned $2.44 earnings per share. Kinsale Capital Group's quarterly revenue was up 41.7% compared to the same quarter last year. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a $0.15 dividend. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.99%.

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now directly owns 95,850 shares of the company's stock, valued at $35,247,879. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction dated 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 sale, the director now directly owns 887 shares of the company's stock, valued at $464,867.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at $35,247,879. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,778 shares of company stock valued at $4,532,422. 5.60% of the stock is owned by insiders.

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.