Panagora Asset Management Inc. Sells 5,141 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Panagora Asset Management Inc. decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,524 shares of the financial services provider's stock after selling 5,141 shares during the period. Panagora Asset Management Inc. owned approximately 0.22% of Kinsale Capital Group worth $16,921,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp raised its holdings in Kinsale Capital Group by 7.2% during the third quarter. Fifth Third Bancorp now owns 479 shares of the financial services provider's stock worth $198,000 after purchasing an additional 32 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Kinsale Capital Group by 41.7% during the third quarter. Teacher Retirement System of Texas now owns 11,670 shares of the financial services provider's stock worth $4,833,000 after purchasing an additional 3,437 shares in the last quarter. Money Concepts Capital Corp raised its holdings in Kinsale Capital Group by 6.9% during the third quarter. Money Concepts Capital Corp now owns 758 shares of the financial services provider's stock worth $314,000 after purchasing an additional 49 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in Kinsale Capital Group by 53.3% during the third quarter. Congress Asset Management Co. MA now owns 9,102 shares of the financial services provider's stock worth $3,769,000 after purchasing an additional 3,165 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in Kinsale Capital Group by 4.0% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,105 shares of the financial services provider's stock valued at $458,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of KNSL traded up $7.05 during mid-day trading on Friday, reaching $390.92. 140,623 shares of the company's stock were exchanged, compared to its average volume of 279,757. Kinsale Capital Group, Inc. has a 52-week low of $297.33 and a 52-week high of $548.47. The company has a 50-day simple moving average of $450.86 and a two-hundred day simple moving average of $412.19. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 25.97 and a beta of 0.98. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. During the same quarter last year, the business earned $2.44 earnings per share. Kinsale Capital Group's revenue was up 41.7% compared to the same quarter last year. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.07 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.99%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of Kinsale Capital Group from $544.00 to $453.00 and set a "market perform" rating for the company in a report on Tuesday, April 30th. Compass Point dropped their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a "neutral" rating for the company in a report on Monday, April 29th. Truist Financial dropped their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a "buy" rating for the company in a report on Monday, April 29th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their target price 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Kinsale Capital Group has an average rating of "Hold" and an average target price of $438.43.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group 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 document filed with the SEC, which can be accessed through the SEC website. In related news, COO Brian D. Haney sold 3,778 shares of Kinsale Capital Group stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the transaction, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 9,778 shares of company stock worth $4,532,422 in the last quarter. 5.60% of the stock is owned by 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.