PNC Financial Services Group Inc. Trims Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

PNC Financial Services Group Inc. trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,395 shares of the financial services provider's stock after selling 786 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Kinsale Capital Group were worth $1,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Kinsale Capital Group by 1.3% in the third quarter. State Street Corp now owns 689,386 shares of the financial services provider's stock worth $320,957,000 after purchasing an additional 8,954 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $246,810,000 after buying an additional 29,686 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Kinsale Capital Group by 9.6% in the fourth quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider's stock worth $238,193,000 after acquiring an additional 44,931 shares during the period. DF Dent & Co. Inc. increased its position in Kinsale Capital Group by 3.0% during the third quarter. DF Dent & Co. Inc. now owns 226,614 shares of the financial services provider's stock valued at $105,505,000 after acquiring an additional 6,679 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Kinsale Capital Group by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 183,345 shares of the financial services provider's stock valued at $85,279,000 after acquiring an additional 5,213 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

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Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded up $0.99 during trading hours on Wednesday, hitting $451.85. The company's stock had a trading volume of 86,458 shares, compared to its average volume of 201,647. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 12-month low of $355.12 and a 12-month high of $536.84. The business has a 50 day moving average price of $444.75 and a two-hundred day moving average price of $460.66. The company has a market cap of $10.52 billion, a PE ratio of 25.40, a PEG ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $412.12 million for the quarter, compared to analysts' expectations of $418.32 million. Analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share 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. Shareholders of record on Thursday, February 27th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 0.15%. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.15. Kinsale Capital Group's dividend payout ratio (DPR) is 3.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KNSL shares. BMO Capital Markets upped their price target 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. Royal Bank of Canada reiterated 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. Morgan Stanley cut 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 report on Friday, February 14th. Truist Financial raised their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Finally, JMP Securities reiterated a "market perform" rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. 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 company currently has a consensus rating of "Hold" and an average price target of $468.56.

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.