Citigroup Inc. Boosts Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Citigroup Inc. lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,402 shares of the financial services provider’s stock after purchasing an additional 148 shares during the quarter. Citigroup Inc.’s holdings in Kinsale Capital Group were worth $5,774,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNSL. Thrivent Financial for Lutherans grew its position in Kinsale Capital Group by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after purchasing an additional 6,331 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Kinsale Capital Group by 14.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after buying an additional 52,218 shares during the period. Geneva Capital Management LLC increased its stake in Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Kinsale Capital Group by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock worth $107,687,000 after buying an additional 685 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in Kinsale Capital Group by 10.3% during the second quarter. Natixis Advisors LLC now owns 159,009 shares of the financial services provider’s stock worth $61,263,000 after acquiring an additional 14,878 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $508.44 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $466.06 and its 200-day simple moving average is $437.40. The firm has a market cap of $11.84 billion, a PE ratio of 28.99, a P/E/G ratio of 2.16 and a beta of 1.09. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same period in the prior year, the firm earned $3.31 earnings per share. The company’s revenue was up 33.0% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

Analyst Upgrades and Downgrades

KNSL has been the topic of several recent analyst reports. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Jefferies Financial Group upped their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Finally, Truist Financial dropped their price target on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now owns 447 shares in the company, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently 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.