Corebridge Financial Inc. Reduces Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Corebridge Financial Inc. reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,286 shares of the financial services provider's stock after selling 1,132 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Kinsale Capital Group worth $11,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new position in Kinsale Capital Group during the 4th quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in Kinsale Capital Group by 7,400.0% during the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 74 shares during the last quarter. Allworth Financial LP lifted its holdings in Kinsale Capital Group by 450.0% in 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 during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $46,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Down 0.9 %

Kinsale Capital Group stock traded down $4.58 during mid-day trading on Friday, reaching $482.17. The stock had a trading volume of 106,207 shares, compared to its average volume of 175,001. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $531.79. The company has a 50-day moving average price of $452.38 and a two-hundred day moving average price of $461.01. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Remove Ads

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its 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. The firm had revenue of $412.12 million for the quarter, compared to the consensus estimate 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 expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on KNSL shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $500.00 price target on shares of Kinsale Capital Group in a report on Tuesday, February 18th. Truist Financial raised their price objective 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. Morgan Stanley decreased their target price on 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. JPMorgan Chase & Co. reduced their price target on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. Finally, JMP Securities restated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has an average rating of "Hold" and an average target price of $468.56.

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.