Thrivent Financial for Lutherans Reduces Stock Position in Kinsale Capital Group, Inc. $KNSL

Thrivent Financial for Lutherans trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 93.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,211 shares of the financial services provider’s stock after selling 265,881 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Kinsale Capital Group worth $8,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KNSL. Root Financial Partners LLC bought a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new position in shares of Kinsale Capital Group during the 2nd quarter worth about $38,000. VSM Wealth Advisory LLC bought a new position in Kinsale Capital Group during the 2nd quarter valued at about $39,000. Eastern Bank bought a new stake in Kinsale Capital Group in the third quarter worth about $43,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Kinsale Capital Group during the third quarter valued at approximately $43,000. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KNSL. Cantor Fitzgerald cut their price objective on Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. TD Cowen decreased their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective on the stock. Finally, Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $476.60.

Kinsale Capital Group Stock Up 0.2%

Kinsale Capital Group stock opened at $409.75 on Friday. Kinsale Capital Group, Inc. has a fifty-two week low of $349.00 and a fifty-two week high of $512.76. The company has a market cap of $9.53 billion, a PE ratio of 20.13, a PEG ratio of 1.44 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50-day simple moving average is $391.59 and its two-hundred day simple moving average is $419.63.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued a $0.25 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group’s payout ratio is currently 3.34%.

Kinsale Capital Group announced that its board has approved a stock repurchase plan on Thursday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

About Kinsale Capital Group

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.