State Street Corp Buys 8,954 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

State Street Corp boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,386 shares of the financial services provider’s stock after buying an additional 8,954 shares during the quarter. State Street Corp’s holdings in Kinsale Capital Group were worth $320,957,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in shares of Kinsale Capital Group in the 3rd quarter worth about $26,000. UMB Bank n.a. boosted its position in Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after buying an additional 49 shares in the last quarter. Signaturefd LLC grew its stake in Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after buying an additional 79 shares in the last quarter. Finally, American National Bank & Trust bought a new position in shares of Kinsale Capital Group in the third quarter valued at approximately $55,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares of the company’s stock, valued at $223,191.57. The trade was a 90.85 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $502.30 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The stock has a market capitalization of $11.70 billion, a P/E ratio of 28.64, a P/E/G ratio of 2.24 and a beta of 1.13. The business has a 50-day moving average price of $472.15 and a two-hundred day moving average price of $442.44.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter in the previous year, the company earned $3.31 EPS. Kinsale Capital Group’s revenue was up 33.0% on a year-over-year basis. Equities analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.42%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KNSL shares. Royal Bank of Canada decreased their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a report on Monday, October 28th. Finally, Jefferies Financial Group boosted their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $472.00.

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.