Kornitzer Capital Management Inc. KS Has $9.96 Million Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Kornitzer Capital Management Inc. KS lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 83.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,730 shares of the financial services provider’s stock after purchasing an additional 13,530 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.13% of Kinsale Capital Group worth $9,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KNSL. BlackRock Inc. raised its position in Kinsale Capital Group by 2.1% in the first quarter. BlackRock Inc. now owns 2,524,655 shares of the financial services provider’s stock worth $757,775,000 after purchasing an additional 51,045 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Kinsale Capital Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 2,225,632 shares of the financial services provider’s stock worth $507,488,000 after buying an additional 26,965 shares during the period. State Street Corp boosted its stake in Kinsale Capital Group by 1.7% in the 1st quarter. State Street Corp now owns 736,301 shares of the financial services provider’s stock valued at $220,996,000 after buying an additional 12,650 shares in the last quarter. Invesco Ltd. grew its position in Kinsale Capital Group by 15.4% in the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock valued at $287,435,000 after acquiring an additional 92,496 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Kinsale Capital Group by 19.8% in the first quarter. JPMorgan Chase & Co. now owns 596,157 shares of the financial services provider’s stock valued at $178,937,000 after acquiring an additional 98,435 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KNSL has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Royal Bank of Canada lifted their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Truist Financial increased their price target on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $434.00 to $544.00 in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group has a consensus rating of “Hold” and an average price target of $510.00.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Kinsale Capital Group Trading Down 0.0 %

NYSE:KNSL traded down $0.11 during trading hours on Friday, hitting $451.81. 142,359 shares of the stock were exchanged, compared to its average volume of 164,978. The company has a market capitalization of $10.48 billion, a P/E ratio of 34.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $491.30 and its two-hundred day moving average is $415.30.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.43. The business had revenue of $351.17 million for the quarter, compared to analysts’ expectations of $367.98 million. Kinsale Capital Group had a return on equity of 31.52% and a net margin of 25.29%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.60 earnings per share. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s payout ratio is 4.54%.

Kinsale Capital Group Company 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.