Bahl & Gaynor Inc. Has $3.90 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bahl & Gaynor Inc. lifted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,637 shares of the financial services provider’s stock after acquiring an additional 157 shares during the period. Bahl & Gaynor Inc. owned approximately 0.05% of Kinsale Capital Group worth $3,897,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KNSL. Invesco Ltd. raised its stake in shares of Kinsale Capital Group by 15.4% in the third quarter. Invesco Ltd. now owns 694,070 shares of the financial services provider’s stock worth $287,435,000 after acquiring an additional 92,496 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Kinsale Capital Group by 154.5% in 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 during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Kinsale Capital Group by 4,798.0% in 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 during the period. Bank of New York Mellon Corp boosted its holdings in shares of Kinsale Capital Group by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 217,546 shares of the financial services provider’s stock valued at $90,092,000 after buying an additional 1,018 shares during the period. Finally, Copeland Capital Management LLC lifted its position in shares of Kinsale Capital Group by 4.6% in the fourth quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock worth $67,363,000 after purchasing an additional 8,803 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Trading Down 17.3 %

Shares of Kinsale Capital Group stock opened at $374.64 on Friday. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 24.89 and a beta of 0.89. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group, Inc. has a 12-month low of $297.33 and a 12-month high of $548.47. The firm’s 50-day moving average price is $491.62 and its two-hundred day moving average price is $415.88.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. The firm had revenue of $372.79 million during 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 32.92%. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. On average, analysts forecast that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a $0.15 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. Kinsale Capital Group’s dividend payout ratio is 3.99%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at approximately $159,199,255.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the sale, the director now directly owns 887 shares of the company’s stock, valued at approximately $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KNSL. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Truist Financial upped their price target on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have issued 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 price target of $510.00.

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.