Kinsale Capital Group, Inc. $KNSL Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 36.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,968 shares of the financial services provider’s stock after selling 2,309 shares during the quarter. Teacher Retirement System of Texas’ holdings in Kinsale Capital Group were worth $1,687,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $33,000. Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group during the second quarter worth about $38,000. VSM Wealth Advisory LLC acquired a new position in Kinsale Capital Group during the second quarter worth about $39,000. Eastern Bank acquired a new position in Kinsale Capital Group during the third quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock valued at $49,000 after buying an additional 43 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 0.2%

Shares of KNSL stock opened at $396.08 on Friday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.39 and a beta of 1.00. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $390.11 and a 200 day moving average price of $421.49. Kinsale Capital Group, Inc. has a twelve month low of $349.00 and a twelve month high of $512.76.

Kinsale Capital Group declared that its Board of Directors has authorized a share repurchase program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.34%.

Analysts Set New Price Targets

Several brokerages have recently commented on KNSL. Cantor Fitzgerald decreased their price target on Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Wells Fargo & Company began coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, TD Cowen reduced their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.