Oppenheimer Asset Management Inc. Sells 624 Shares of Kinsale Capital Group, Inc. $KNSL

Oppenheimer Asset Management Inc. reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,196 shares of the financial services provider’s stock after selling 624 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kinsale Capital Group were worth $9,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KNSL. Key Financial Inc grew its stake in Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Kinsale Capital Group during the 1st quarter valued at about $31,000. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group during the 2nd quarter valued at about $31,000. von Borstel & Associates Inc. purchased a new stake in Kinsale Capital Group during the 1st quarter valued at about $42,000. Finally, Toth Financial Advisory Corp grew its stake in Kinsale Capital Group by 90.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 45 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley dropped their price target on Kinsale Capital Group from $525.00 to $500.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Truist Financial upped their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Compass Point upped their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Cantor Fitzgerald upgraded Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Kinsale Capital Group in a research note on Saturday. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $506.89.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $421.21 on Monday. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.56 and a beta of 1.09. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $446.90 and a 200 day moving average of $459.33.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, topping analysts’ consensus estimates of $4.79 by $0.42. The company had revenue of $405.06 million during the quarter, compared to analysts’ expectations of $446.00 million. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.Kinsale Capital Group’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.20 EPS. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

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.