Handelsbanken Fonder AB Increases Holdings in Kinsale Capital Group, Inc. $KNSL

Handelsbanken Fonder AB lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Handelsbanken Fonder AB owned about 0.25% of Kinsale Capital Group worth $22,294,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bamco Inc. NY raised its holdings in shares of Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after buying an additional 24,796 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after buying an additional 10,137 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kinsale Capital Group by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after buying an additional 25,428 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Kinsale Capital Group by 2.6% during the 3rd quarter. Invesco Ltd. now owns 274,724 shares of the financial services provider’s stock valued at $116,829,000 after buying an additional 6,934 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Kinsale Capital Group by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 273,724 shares of the financial services provider’s stock valued at $116,390,000 after buying an additional 35,864 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KNSL. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Weiss Ratings lowered Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Jefferies Financial Group lowered Kinsale Capital Group from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. Finally, BMO Capital Markets lowered Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $392.00.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

KNSL opened at $311.36 on Thursday. The stock’s 50 day simple moving average is $336.73 and its 200 day simple moving average is $370.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. Kinsale Capital Group, Inc. has a 1 year low of $293.78 and a 1 year high of $512.76. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.02 and a beta of 0.95.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period last year, the company earned $3.71 EPS. Kinsale Capital Group’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that Kinsale Capital Group, Inc. will post 20.58 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

About Kinsale Capital Group

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.