Russell Investments Group Ltd. lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 40.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,668 shares of the financial services provider’s stock after selling 17,830 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Kinsale Capital Group worth $6,809,000 at the end of the most recent reporting period.
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A number of other institutional investors have also modified their holdings of KNSL. Bank of Montreal Can increased its holdings in shares of Kinsale Capital Group by 5.1% in the first quarter. Bank of Montreal Can now owns 1,663 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 80 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Kinsale Capital Group by 119.7% in the first quarter. Panagora Asset Management Inc. now owns 3,219 shares of the financial services provider’s stock valued at $734,000 after buying an additional 1,754 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Kinsale Capital Group by 2.5% in the first quarter. Rhumbline Advisers now owns 58,459 shares of the financial services provider’s stock valued at $13,330,000 after buying an additional 1,422 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Kinsale Capital Group by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,861 shares of the financial services provider’s stock valued at $1,792,000 after buying an additional 749 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Kinsale Capital Group by 1.0% in the first quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock valued at $524,835,000 after buying an additional 23,604 shares in the last quarter. Institutional investors and hedge funds own 85.97% of the company’s stock.
Kinsale Capital Group Stock Up 1.4 %
KNSL opened at $282.41 on Thursday. The business’s fifty day moving average is $279.65 and its two-hundred day moving average is $277.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 46.53 and a beta of 0.89. Kinsale Capital Group, Inc. has a one year low of $187.03 and a one year high of $334.99.
Kinsale Capital Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Wednesday, November 30th were given a $0.13 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.52 annualized dividend and a dividend yield of 0.18%. Kinsale Capital Group’s dividend payout ratio is currently 8.57%.
Insider Activity
In other news, CEO Michael P. Kehoe sold 3,500 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $317.16, for a total value of $1,110,060.00. Following the sale, the chief executive officer now directly owns 313,441 shares in the company, valued at $99,410,947.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.20% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on KNSL. BMO Capital Markets began coverage on Kinsale Capital Group in a research note on Thursday, January 19th. They issued an “underperform” rating and a $230.00 price target on the stock. Jefferies Financial Group began coverage on Kinsale Capital Group in a research note on Monday, December 12th. They issued a “hold” rating and a $295.00 price target on the stock. Truist Financial lifted their price target on Kinsale Capital Group from $285.00 to $335.00 in a research note on Monday, October 31st. Compass Point upgraded Kinsale Capital Group from a “neutral” rating to a “buy” rating and set a $330.00 price target on the stock in a research note on Tuesday, December 20th. Finally, StockNews.com initiated coverage on Kinsale Capital Group in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $308.00.
Kinsale Capital Group Profile
Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.
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