Amalgamated Bank Has $5.20 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Amalgamated Bank reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,183 shares of the financial services provider’s stock after selling 42 shares during the quarter. Amalgamated Bank’s holdings in Kinsale Capital Group were worth $5,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group during the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $31,000. Allworth Financial LP raised its holdings in shares of Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after buying an additional 72 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Kinsale Capital Group by 67.2% during the 4th quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock worth $47,000 after buying an additional 41 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Kinsale Capital Group by 43.6% in the fourth quarter. Mather Group LLC. now owns 168 shares of the financial services provider’s stock valued at $78,000 after buying an additional 51 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several research analyst reports. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. BMO Capital Markets boosted their target price on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Truist Financial upped their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley cut their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Stock Up 2.9 %

Shares of NYSE:KNSL opened at $428.84 on Friday. The firm has a market cap of $9.99 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $548.47. The business has a fifty day simple moving average of $447.97 and a 200 day simple moving average of $464.33. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.16%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.82%.

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.