Swiss National Bank Decreases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Swiss National Bank lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,262 shares of the financial services provider’s stock after selling 600 shares during the quarter. Swiss National Bank owned 0.18% of Kinsale Capital Group worth $20,451,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. N.E.W. Advisory Services LLC acquired a new position in Kinsale Capital Group during the 1st quarter worth approximately $31,000. V Square Quantitative Management LLC acquired a new stake in Kinsale Capital Group during the 2nd quarter valued at $31,000. VSM Wealth Advisory LLC purchased a new stake in Kinsale Capital Group during the 2nd quarter worth $39,000. Toth Financial Advisory Corp lifted its holdings in Kinsale Capital Group by 90.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock worth $46,000 after buying an additional 45 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in Kinsale Capital Group in the 1st quarter worth $49,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 1.8%

NYSE:KNSL opened at $386.07 on Wednesday. The company has a market cap of $8.98 billion, a PE ratio of 18.96, a P/E/G ratio of 1.46 and a beta of 1.09. The business’s 50 day moving average is $422.35 and its two-hundred day moving average is $448.28. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 52 week low of $363.14 and a 52 week high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.42. The business had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.20 EPS. On average, analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 28th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, November 28th. This represents a $0.68 annualized dividend and a yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is 3.34%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets raised their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the company a “market perform” rating in a research note on Tuesday, July 29th. Morgan Stanley lowered their price objective on Kinsale Capital Group from $490.00 to $480.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Cantor Fitzgerald upgraded Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a research report on Tuesday. They set a “sector perform” rating and a $415.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $483.78.

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.