Renaissance Technologies LLC Sells 24,600 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Renaissance Technologies LLC trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 94.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,437 shares of the financial services provider's stock after selling 24,600 shares during the period. Renaissance Technologies LLC's holdings in Kinsale Capital Group were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $89,200,000. Alliancebernstein L.P. lifted its stake in Kinsale Capital Group by 486.3% in the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock valued at $99,559,000 after buying an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Kinsale Capital Group by 20,286.0% in the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after buying an additional 104,270 shares during the period. Handelsbanken Fonder AB increased its position in shares of Kinsale Capital Group by 1,119.0% during the fourth quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider's stock worth $32,885,000 after acquiring an additional 64,900 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth $22,933,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

KNSL stock traded up $7.02 during trading hours on Monday, reaching $455.82. The stock had a trading volume of 164,881 shares, compared to its average volume of 171,844. The stock has a market capitalization of $10.63 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. The stock has a 50-day simple moving average of $460.63 and a 200 day simple moving average of $461.71. Kinsale Capital Group, Inc. has a fifty-two week low of $366.92 and a fifty-two week high of $531.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $423.40 million for the quarter, compared to analysts' expectations of $425.73 million. During the same quarter in the prior year, the business earned $3.50 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on KNSL. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Morgan Stanley decreased their price objective on Kinsale Capital Group from $515.00 to $490.00 and set an "overweight" rating for the company in a report on Thursday. Truist Financial cut their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Kinsale Capital Group has an average rating of "Hold" and a consensus price target of $470.00.

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.