State of Alaska Department of Revenue Decreases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

State of Alaska Department of Revenue reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,526 shares of the financial services provider’s stock after selling 25 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kinsale Capital Group were worth $1,174,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its stake in shares of Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after acquiring an additional 58,971 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Kinsale Capital Group by 75.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after acquiring an additional 57,460 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of 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. DAVENPORT & Co LLC increased its stake in shares of Kinsale Capital Group by 9.6% in the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after acquiring an additional 44,931 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Kinsale Capital Group in the 3rd quarter worth $18,599,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $476.78 on Thursday. The company has a market cap of $11.10 billion, a P/E ratio of 27.18, a PEG ratio of 1.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $548.47. The business’s 50-day simple moving average is $461.71 and its 200 day simple moving average is $465.49.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KNSL has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Morgan Stanley assumed coverage on Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price objective for the company. Royal Bank of Canada decreased their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $468.89.

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.