HighTower Advisors LLC Raises Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

HighTower Advisors LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 68.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,999 shares of the financial services provider’s stock after buying an additional 4,078 shares during the period. HighTower Advisors LLC’s holdings in Kinsale Capital Group were worth $4,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centiva Capital LP bought a new position in Kinsale Capital Group in the third quarter valued at about $1,074,000. Ascent Group LLC increased its position in shares of Kinsale Capital Group by 10.5% during the 3rd quarter. Ascent Group LLC now owns 7,585 shares of the financial services provider’s stock valued at $3,531,000 after purchasing an additional 723 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Kinsale Capital Group by 236.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 898 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 631 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Kinsale Capital Group in the third quarter worth approximately $623,000. Finally, Erste Asset Management GmbH bought a new stake in Kinsale Capital Group during the third quarter valued at approximately $18,599,000. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KNSL. JPMorgan Chase & Co. decreased 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. 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 raised their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets boosted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Finally, Truist Financial decreased their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Seven 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, Kinsale Capital Group has an average rating of “Hold” and an average price target of $472.00.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the sale, the director now directly owns 447 shares in the company, valued at $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the transaction, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 3.8 %

Shares of KNSL opened at $502.30 on Wednesday. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a 50 day simple moving average of $472.15 and a two-hundred day simple moving average of $442.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $11.70 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $359.43 million. During the same period in the previous year, the firm posted $3.31 EPS. Kinsale Capital Group’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

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.