Summit Investment Advisors Inc. Reduces Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Summit Investment Advisors Inc. lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,431 shares of the financial services provider’s stock after selling 108 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Kinsale Capital Group were worth $2,061,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Kinsale Capital Group during the 4th quarter worth $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $31,000. Larson Financial Group LLC increased its position 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 worth $35,000 after purchasing an additional 74 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 72 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $484.96 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $459.15 and its two-hundred day moving average is $462.42. Kinsale Capital Group, Inc. has a twelve month low of $355.12 and a twelve month high of $531.79. The firm has a market capitalization of $11.29 billion, a PE ratio of 27.26, a P/E/G ratio of 1.66 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share 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 firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Truist Financial raised their price objective 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, February 18th. Morgan Stanley reduced 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 report on Friday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $468.56.

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.