William Blair cut shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) from an outperform rating to a market perform rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

A number of other brokerages also recently issued reports on KNSL. Zacks Investment Research upgraded Kinsale Capital Group from a hold rating to a buy rating and set a $46.00 price target for the company in a research report on Tuesday, August 8th. SunTrust Banks, Inc. set a $46.00 price target on Kinsale Capital Group and gave the company a buy rating in a research report on Monday, August 7th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $38.00 price target on shares of Kinsale Capital Group in a research report on Tuesday, July 18th.

Kinsale Capital Group (KNSL) opened at 42.72 on Monday. The firm’s 50-day moving average price is $42.30 and its 200 day moving average price is $42.30. Kinsale Capital Group has a 52 week low of $20.84 and a 52 week high of $47.78. The firm has a market cap of $895.75 million, a P/E ratio of 67.28 and a beta of 0.09.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.56%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 19.20%.

In related news, Director Frederick L. Jr. Russell sold 124,812 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $36.58, for a total transaction of $4,565,622.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 11.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Kinsale Capital Group by 28.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,405,850 shares of the financial services provider’s stock valued at $52,453,000 after buying an additional 308,449 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Kinsale Capital Group by 119.1% during the 1st quarter. Prudential Financial Inc. now owns 99,095 shares of the financial services provider’s stock valued at $3,175,000 after buying an additional 53,877 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kinsale Capital Group by 22.1% during the 1st quarter. Vanguard Group Inc. now owns 506,838 shares of the financial services provider’s stock valued at $16,239,000 after buying an additional 91,838 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Kinsale Capital Group by 10.8% during the 2nd quarter. American Century Companies Inc. now owns 421,694 shares of the financial services provider’s stock valued at $15,733,000 after buying an additional 41,111 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Kinsale Capital Group by 53.3% during the 2nd quarter. Hood River Capital Management LLC now owns 458,168 shares of the financial services provider’s stock valued at $17,094,000 after buying an additional 159,250 shares in the last quarter. 79.79% of the stock is currently owned by institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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