Norges Bank Invests $107.92 Million in Kinsale Capital Group, Inc. $KNSL

Norges Bank purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 275,916 shares of the financial services provider’s stock, valued at approximately $107,916,000.

Several other institutional investors have also modified their holdings of KNSL. V Square Quantitative Management LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $29,000. International Assets Investment Management LLC purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth $29,000. Johnson Financial Group Inc. raised its holdings in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Kinsale Capital Group by 225.0% during the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KNSL. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Cantor Fitzgerald reduced their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $390.18.

Kinsale Capital Group Stock Up 1.7%

Shares of KNSL opened at $295.19 on Friday. The firm has a market cap of $6.81 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The company’s 50-day moving average price is $327.37 and its 200 day moving average price is $363.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. Kinsale Capital Group’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 EPS. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group’s payout ratio is currently 4.40%.

Insider Activity

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.