Prudential Financial Inc. Sells 965 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Prudential Financial Inc. decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 48.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,031 shares of the financial services provider's stock after selling 965 shares during the quarter. Prudential Financial Inc.'s holdings in Kinsale Capital Group were worth $480,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $31,000. Larson Financial Group LLC lifted its holdings in shares of Kinsale Capital Group by 7,400.0% during the fourth 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 in the last quarter. Allworth Financial LP boosted its position in shares of Kinsale Capital Group by 450.0% during the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider's stock valued at $39,000 after buying an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Kinsale Capital Group in the 4th quarter worth about $46,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL stock traded up $3.56 during trading hours on Friday, reaching $481.79. 107,412 shares of the company traded hands, compared to its average volume of 175,457. The firm has a 50-day moving average price of $459.17 and a 200 day moving average price of $462.17. The company has a market cap of $11.21 billion, a P/E ratio of 27.08, a P/E/G ratio of 1.66 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $531.79.

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Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $418.32 million. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's payout ratio is 3.82%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial upped their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley cut their target price 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 restated a "market perform" rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $415.00 to $412.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $468.56.

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.