Handelsbanken Fonder AB Sells 3,600 Shares of Kinsale Capital Group, Inc. $KNSL

Handelsbanken Fonder AB decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,000 shares of the financial services provider’s stock after selling 3,600 shares during the quarter. Handelsbanken Fonder AB owned about 0.22% of Kinsale Capital Group worth $22,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bamco Inc. NY boosted its stake in Kinsale Capital Group by 1.4% in the second quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock valued at $853,500,000 after acquiring an additional 24,936 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kinsale Capital Group by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock worth $288,657,000 after purchasing an additional 12,040 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares during the last quarter. Riverbridge Partners LLC grew its stake in shares of Kinsale Capital Group by 11.1% during the third quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock worth $123,548,000 after purchasing an additional 29,053 shares during the period. Finally, Norges Bank bought a new stake in Kinsale Capital Group in the second quarter valued at about $125,812,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $389.80 on Friday. The company has a fifty day moving average price of $393.52 and a 200 day moving average price of $411.56. The firm has a market cap of $9.02 billion, a PE ratio of 17.99, a PEG ratio of 1.60 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 1-year low of $341.06 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same quarter last year, the business posted $4.62 EPS. Research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group announced that its board has initiated a share buyback 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 purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.61%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial reduced their target price on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. TD Cowen decreased their price objective on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $441.91.

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.