Ensign Peak Advisors Inc Sells 8,244 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Ensign Peak Advisors Inc cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 78,344 shares of the financial services provider’s stock after selling 8,244 shares during the period. Ensign Peak Advisors Inc’s holdings in Kinsale Capital Group were worth $36,440,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $89,200,000. Alliancebernstein L.P. increased its position in shares of Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock worth $99,559,000 after purchasing an additional 177,540 shares during the last quarter. Premier Fund Managers Ltd raised its stake in shares of Kinsale Capital Group by 20,286.0% during the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock worth $48,813,000 after purchasing an additional 104,270 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Kinsale Capital Group by 1,119.0% in the 4th quarter. Handelsbanken Fonder AB now owns 70,700 shares of the financial services provider’s stock valued at $32,885,000 after buying an additional 64,900 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth $22,933,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on KNSL. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Truist Financial reduced their price target on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price objective on Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Finally, Morgan Stanley cut their price target on Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $470.00.

Kinsale Capital Group Stock Performance

KNSL opened at $454.46 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 capitalization of $10.59 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. The business has a fifty day simple moving average of $463.50 and a 200 day simple moving average of $461.47. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same period in the prior year, the company posted $3.50 earnings per share. Kinsale Capital Group’s revenue was up 7.9% compared to the same quarter last year. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.91%.

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.