Park Place Capital Corp Sells 177 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Park Place Capital Corp reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 50.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 172 shares of the financial services provider’s stock after selling 177 shares during the period. Park Place Capital Corp’s holdings in Kinsale Capital Group were worth $80,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of KNSL. Headlands Technologies LLC acquired a new stake in Kinsale Capital Group in the 1st quarter valued at about $25,000. Trust Co. of Vermont lifted its position in Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 50 shares during the last quarter. Quarry LP acquired a new stake in Kinsale Capital Group during the fourth quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV lifted its position in Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 79 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Kinsale Capital Group during the third quarter worth approximately $55,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KNSL. Truist Financial raised their price objective on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Oppenheimer began coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They set a “market perform” rating on the stock. Royal Bank of Canada raised their target price on shares of Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Wolfe Research cut shares of Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $441.83.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $463.58 on Wednesday. The company’s 50 day simple moving average is $467.57 and its 200 day simple moving average is $430.05. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 2.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. The firm had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. Kinsale Capital Group’s payout ratio is presently 3.99%.

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.