Bamco Inc. NY Reduces Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bamco Inc. NY trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,745,415 shares of the financial services provider’s stock after selling 70,707 shares during the quarter. Kinsale Capital Group makes up approximately 2.2% of Bamco Inc. NY’s holdings, making the stock its 11th largest position. Bamco Inc. NY owned 7.49% of Kinsale Capital Group worth $812,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its holdings in Kinsale Capital Group by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 729,508 shares of the financial services provider’s stock worth $281,065,000 after acquiring an additional 6,331 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Kinsale Capital Group by 14.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares during the period. Geneva Capital Management LLC boosted its holdings in Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock worth $189,874,000 after buying an additional 5,207 shares during the period. Copeland Capital Management LLC grew its position in shares of Kinsale Capital Group by 0.3% during the third quarter. Copeland Capital Management LLC now owns 231,303 shares of the financial services provider’s stock worth $107,687,000 after purchasing an additional 685 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Kinsale Capital Group by 10.3% during the 2nd quarter. Natixis Advisors LLC now owns 159,009 shares of the financial services provider’s stock valued at $61,263,000 after buying an additional 14,878 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNSL has been the topic of several research reports. BMO Capital Markets lifted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Royal Bank of Canada reduced their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Truist Financial lowered their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $456.88.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 1.4 %

NYSE:KNSL opened at $508.44 on Monday. The firm has a 50 day moving average of $466.06 and a 200 day moving average of $437.40. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 2.16 and a beta of 1.09. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the prior year, the company posted $3.31 earnings per share. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.15 per share. 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 3.42%.

Kinsale Capital Group 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.