Geode Capital Management LLC Acquires 29,686 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Geode Capital Management LLC raised its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 5.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 528,708 shares of the financial services provider's stock after purchasing an additional 29,686 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Kinsale Capital Group worth $246,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new stake in shares of Kinsale Capital Group in the 3rd quarter worth $26,000. UMB Bank n.a. boosted its holdings in Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider's stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Signaturefd LLC grew its position in Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider's stock worth $48,000 after purchasing an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider's stock valued at $53,000 after buying an additional 79 shares during the last quarter. Finally, American National Bank & Trust bought a new position in shares of Kinsale Capital Group during the 3rd quarter worth approximately $55,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KNSL. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $426.00 to $420.00 and set a "neutral" rating for the company in a report on Thursday, October 10th. Morgan Stanley started coverage on Kinsale Capital Group in a research note on Thursday, December 5th. They issued an "overweight" rating and a $593.00 price objective for the company. BMO Capital Markets raised their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a "market perform" rating in a research report on Thursday, November 21st. Wolfe Research raised shares of Kinsale Capital Group from a "peer perform" rating to an "outperform" rating and set a $535.00 price target on the stock in a report on Monday, October 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a "sector perform" rating for the company in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Kinsale Capital Group presently has an average rating of "Hold" and a consensus target price of $472.00.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares of the company's stock, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now owns 447 shares of the company's stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 over the last 90 days. Corporate insiders own 5.60% of the company's stock.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock traded down $0.15 during midday trading on Friday, reaching $506.73. The stock had a trading volume of 122,219 shares, compared to its average volume of 172,876. The firm has a market capitalization of $11.80 billion, a PE ratio of 28.89, a P/E/G ratio of 2.19 and a beta of 1.13. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average price is $474.35 and its 200 day moving average price is $445.39.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company's quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.31 earnings per share. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group's dividend payout ratio is currently 3.42%.

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.