Wells Fargo & Company MN Trims Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Wells Fargo & Company MN reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,789 shares of the financial services provider's stock after selling 2,087 shares during the period. Wells Fargo & Company MN owned 0.11% of Kinsale Capital Group worth $11,995,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $89,200,000. Alliancebernstein L.P. increased its holdings in Kinsale Capital Group by 486.3% during 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 during the period. Premier Fund Managers Ltd raised its stake in 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 worth $48,813,000 after buying an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in 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 buying an additional 64,900 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Kinsale Capital Group during the 4th quarter valued at $22,933,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded up $3.36 during trading hours on Friday, hitting $487.01. 88,133 shares of the company were exchanged, compared to its average volume of 175,200. The company's 50 day moving average price is $459.06 and its 200-day moving average price is $462.75. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-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 announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group's dividend payout ratio is currently 3.82%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial boosted their price target on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. JMP Securities reaffirmed a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $468.56.

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.