Corebridge Financial Inc. Sells 1,132 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Corebridge Financial Inc. trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 25,286 shares of the financial services provider’s stock after selling 1,132 shares during the period. Corebridge Financial Inc.’s holdings in Kinsale Capital Group were worth $11,761,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Kinsale Capital Group by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 2,113,683 shares of the financial services provider’s stock valued at $983,137,000 after purchasing an additional 29,553 shares in the last quarter. State Street Corp raised its holdings in Kinsale Capital Group by 1.3% during the 3rd quarter. State Street Corp now owns 689,386 shares of the financial services provider’s stock worth $320,957,000 after buying an additional 8,954 shares during the period. Geode Capital Management LLC lifted its stake in Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after buying an additional 29,686 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock valued at $238,193,000 after buying an additional 44,931 shares during the period. Finally, DF Dent & Co. Inc. increased its position in shares of Kinsale Capital Group by 3.0% during the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider’s stock worth $105,505,000 after acquiring an additional 6,679 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $485.35 on Wednesday. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $536.84. The business’s 50 day moving average price is $449.57 and its two-hundred day moving average price is $460.55. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $11.30 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million for the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.14%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is currently 3.82%.

Analyst Ratings Changes

A number of analysts have recently commented on KNSL shares. JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Truist Financial boosted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley decreased their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $468.56.

About Kinsale Capital Group

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.