Madison Asset Management LLC Reduces Holdings in Kinsale Capital Group, Inc. $KNSL

Madison Asset Management LLC reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,124 shares of the financial services provider’s stock after selling 7,850 shares during the quarter. Madison Asset Management LLC owned approximately 0.67% of Kinsale Capital Group worth $66,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its stake in Kinsale Capital Group by 145.3% during the 2nd quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock valued at $2,743,000 after purchasing an additional 3,357 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Kinsale Capital Group by 26.4% during the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock valued at $6,867,000 after buying an additional 3,375 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Kinsale Capital Group by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock valued at $79,659,000 after acquiring an additional 3,448 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Kinsale Capital Group by 492.8% during the third quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock valued at $6,125,000 after acquiring an additional 11,974 shares in the last quarter. Finally, Riverbridge Partners LLC raised its holdings in Kinsale Capital Group by 11.1% in the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock worth $123,548,000 after acquiring an additional 29,053 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Cantor Fitzgerald dropped 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. Royal Bank Of Canada began coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Wells Fargo & Company assumed coverage on Kinsale Capital Group in a research note on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $476.60.

Kinsale Capital Group Stock Up 2.1%

NYSE KNSL opened at $398.61 on Wednesday. Kinsale Capital Group, Inc. has a 52 week low of $349.00 and a 52 week high of $512.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $9.27 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The stock’s 50-day moving average price is $392.90 and its 200-day moving average price is $417.16.

Kinsale Capital Group announced that its board has approved a share buyback plan 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 purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is currently 3.34%.

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.