American International Group Inc. Lowers Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

American International Group Inc. trimmed its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,925 shares of the financial services provider’s stock after selling 1,270 shares during the quarter. American International Group Inc. owned about 0.13% of Kinsale Capital Group worth $10,022,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Royal London Asset Management Ltd. lifted its position in Kinsale Capital Group by 4,798.0% during the third quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock valued at $101,692,000 after buying an additional 240,668 shares in the last quarter. Norges Bank acquired a new position in Kinsale Capital Group during the fourth quarter valued at approximately $78,562,000. DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after buying an additional 198,129 shares in the last quarter. International Assets Investment Management LLC lifted its position in Kinsale Capital Group by 33,266.0% during the fourth quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock valued at $59,896,000 after buying an additional 178,306 shares in the last quarter. Finally, Maren Capital LLC acquired a new position in Kinsale Capital Group during the fourth quarter valued at approximately $46,478,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KNSL shares. Compass Point reduced their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. TD Cowen assumed coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Truist Financial reduced their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 target price (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and a consensus target price of $434.00.

Kinsale Capital Group Stock Up 1.1 %

Shares of NYSE:KNSL opened at $393.89 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $400.38 and a 200 day simple moving average of $417.51. The firm has a market cap of $9.17 billion, a PE ratio of 26.17 and a beta of 1.07. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The business had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business’s revenue was up 41.7% compared to the same quarter last year. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 14.94 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.15%. Kinsale Capital Group’s payout ratio is 3.99%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

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.