Handelsbanken Fonder AB Purchases 64,900 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Handelsbanken Fonder AB grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1,119.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 70,700 shares of the financial services provider’s stock after buying an additional 64,900 shares during the period. Handelsbanken Fonder AB’s holdings in Kinsale Capital Group were worth $32,885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KNSL. 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 bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth $31,000. Allworth Financial LP raised its stake in shares of Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 72 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Kinsale Capital Group by 67.2% during the fourth quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 41 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after buying an additional 42 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on KNSL shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Kinsale Capital Group has an average rating of “Hold” and a consensus target price of $468.56.

Kinsale Capital Group Trading Up 0.4 %

Shares of KNSL stock opened at $442.05 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.63 and a beta of 1.15. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $548.47. The firm has a fifty day moving average price of $455.49 and a 200-day moving average price of $465.68.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly 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 return on equity of 28.04% and a net margin of 26.13%. The business had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 18.06 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date 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 presently 3.82%.

Insider Buying and Selling at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the transaction, the director now directly owns 7,348 shares in the company, valued at approximately $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. Insiders own 5.60% of the company’s stock.

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.