Allspring Global Investments Holdings LLC Decreases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Allspring Global Investments Holdings LLC lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,684 shares of the financial services provider's stock after selling 13,291 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.52% of Kinsale Capital Group worth $54,815,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KNSL. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 29,686 shares during the last quarter. Avior Wealth Management LLC raised 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 valued at $488,000 after purchasing an additional 1,035 shares during the period. Geneva Capital Management LLC lifted its stake in shares of 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 valued at $189,874,000 after purchasing an additional 5,207 shares during the last quarter. Swedbank AB boosted its holdings in shares of Kinsale Capital Group by 5.0% in the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider's stock worth $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Kinsale Capital Group by 2.4% during 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 last quarter. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Trading Down 7.7 %

NYSE:KNSL traded down $37.34 during midday trading on Monday, hitting $449.77. The stock had a trading volume of 821,618 shares, compared to its average volume of 173,716. 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 stock has a 50-day moving average of $459.56 and a 200 day moving average of $465.87. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $412.12 million for the quarter, compared to the consensus estimate of $418.32 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 15.67 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.17 per share. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.42%.

Insider Activity

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated 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 transaction, the director now owns 447 shares in the company, valued at $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the business's stock in a transaction dated 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 transaction, the director now owns 7,348 shares of the company's stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,235 shares of company stock worth $3,618,954. 5.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their price objective on shares of 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. Truist Financial cut their price target on shares of Kinsale Capital Group from $500.00 to $480.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an "overweight" rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their target price 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, Wolfe Research upgraded 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of "Hold" and a consensus target price of $460.78.

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.