PNC Financial Services Group Inc. Raises Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

PNC Financial Services Group Inc. increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,131 shares of the financial services provider’s stock after purchasing an additional 781 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kinsale Capital Group were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KNSL. Janney Montgomery Scott LLC boosted its holdings in Kinsale Capital Group by 1.9% in the third quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 29 shares during the last quarter. HighTower Advisors LLC raised its position in Kinsale Capital Group by 8.2% in the third quarter. HighTower Advisors LLC now owns 2,558 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 193 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Kinsale Capital Group in the third quarter worth approximately $1,177,000. FMR LLC raised its position in Kinsale Capital Group by 5.4% in the third quarter. FMR LLC now owns 19,104 shares of the financial services provider’s stock worth $7,912,000 after acquiring an additional 983 shares during the period. Finally, CI Investments Inc. raised its position in Kinsale Capital Group by 217.5% in the third quarter. CI Investments Inc. now owns 562 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 385 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Transactions at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at approximately $35,247,879. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Down 0.7 %

Shares of KNSL stock opened at $392.62 on Friday. The stock has a market cap of $9.14 billion, a P/E ratio of 26.09 and a beta of 1.07. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $396.99 and its two-hundred day simple moving average is $418.03.

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

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a $0.15 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They issued a “hold” rating and a $403.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Compass Point lowered their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Truist Financial lowered 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 note on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $434.00.

About Kinsale Capital Group

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.