Bank of New York Mellon Corp Purchases 5,213 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of New York Mellon Corp raised its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,345 shares of the financial services provider's stock after purchasing an additional 5,213 shares during the period. Bank of New York Mellon Corp owned 0.79% of Kinsale Capital Group worth $85,279,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Kinsale Capital Group by 5.9% in the 3rd 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. Avior Wealth Management LLC increased its position in Kinsale Capital Group by 7,392.9% during the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider's stock worth $488,000 after acquiring an additional 1,035 shares during the period. Geneva Capital Management LLC raised its stake 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 purchasing an additional 5,207 shares in the last quarter. Swedbank AB boosted its holdings in Kinsale Capital Group by 5.0% in the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock valued at $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Kinsale Capital Group by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 148,475 shares of the financial services provider's stock valued at $69,126,000 after purchasing an additional 3,469 shares during the period. 85.36% of the stock is owned by institutional investors.

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Kinsale Capital Group Price Performance

KNSL stock traded down $3.99 during trading on Thursday, reaching $433.73. 61,089 shares of the company were exchanged, compared to its average volume of 215,344. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $548.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a 50-day moving average of $445.21 and a two-hundred day moving average of $463.06.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal 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 issued a dividend of $0.17 per share. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group's payout ratio is 3.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Truist Financial upped their price objective 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. Finally, BMO Capital Markets increased their price objective 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. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of "Hold" and an average target price of $468.56.

Insider Activity

In other news, EVP Diane D. Schnupp sold 500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

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.