Citigroup Inc. Grows Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Citigroup Inc. grew its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,402 shares of the financial services provider’s stock after acquiring an additional 148 shares during the period. Citigroup Inc. owned 0.05% of Kinsale Capital Group worth $5,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KNSL. Artemis Investment Management LLP bought a new position in shares of Kinsale Capital Group during the 2nd quarter valued at about $25,476,000. Allspring Global Investments Holdings LLC increased its position in Kinsale Capital Group by 75.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after buying an additional 57,460 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Kinsale Capital Group by 14.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 426,418 shares of the financial services provider’s stock worth $164,291,000 after purchasing an additional 52,218 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Kinsale Capital Group by 76,986.9% in the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock worth $21,892,000 after acquiring an additional 46,962 shares during the last quarter. Finally, Swedbank AB bought a new stake in Kinsale Capital Group in the 2nd quarter worth about $15,430,000. 85.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now owns 447 shares of the company’s stock, valued at approximately $223,191.57. The trade was a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

KNSL stock opened at $508.44 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The stock has a market cap of $11.84 billion, a PE ratio of 28.99, a P/E/G ratio of 2.16 and a beta of 1.09. The company has a 50-day moving average price of $466.06 and a 200 day moving average price of $437.40.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the company posted $3.31 earnings per share. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.42%.

Analysts Set New Price Targets

KNSL has been the topic of several research reports. Jefferies Financial Group raised their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research note on Monday, October 28th. BMO Capital Markets increased their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Truist Financial dropped their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $456.88.

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.