Corient Private Wealth LLC Decreases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Corient Private Wealth LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,446 shares of the financial services provider’s stock after selling 39 shares during the period. Corient Private Wealth LLC’s holdings in Kinsale Capital Group were worth $673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB grew its position in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock valued at $32,885,000 after buying an additional 64,900 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at $22,933,000. DAVENPORT & Co LLC increased its position in shares of Kinsale Capital Group by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after purchasing an additional 44,931 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at about $18,599,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $18,323,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 0.9 %

NYSE KNSL opened at $482.17 on Friday. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $531.79. The firm has a 50-day moving average price of $452.38 and a 200 day moving average price of $460.98. The stock has a market capitalization of $11.22 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, beating the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.82%.

Analyst Upgrades and Downgrades

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

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.