Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 37.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,242 shares of the financial services provider’s stock after selling 16,306 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kinsale Capital Group were worth $10,496,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KNSL. Millennium Management LLC increased its stake in shares of Kinsale Capital Group by 653.7% during the second quarter. Millennium Management LLC now owns 24,465 shares of the financial services provider’s stock worth $9,426,000 after buying an additional 21,219 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at $314,000. Cubist Systematic Strategies LLC lifted its position in shares of Kinsale Capital Group by 263.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,660 shares of the financial services provider’s stock worth $4,492,000 after purchasing an additional 8,453 shares during the last quarter. Insigneo Advisory Services LLC grew its stake in shares of Kinsale Capital Group by 10.3% during the second quarter. Insigneo Advisory Services LLC now owns 513 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 48 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Kinsale Capital Group by 57.6% in the second quarter. Marshall Wace LLP now owns 15,370 shares of the financial services provider’s stock valued at $5,922,000 after buying an additional 5,619 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Truist Financial upped their price target on Kinsale Capital Group from $485.00 to $530.00 and gave the company a “buy” rating in a report on Friday, September 27th. Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday, September 16th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Finally, Royal Bank of Canada lifted their price target on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Hold” and an average price target of $438.71.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $477.58 on Friday. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The business’s 50-day moving average price is $466.47 and its 200 day moving average price is $431.88. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The firm has a market cap of $11.12 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.02 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. The company had revenue of $384.55 million during the quarter, compared to the consensus estimate of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. Kinsale Capital Group’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 EPS. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Kinsale Capital Group 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.