6,400 Shares in Kinsale Capital Group, Inc. $KNSL Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the first quarter, HoldingsChannel reports. The fund purchased 6,400 shares of the financial services provider’s stock, valued at approximately $2,187,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bamco Inc. NY raised its position in shares of Kinsale Capital Group by 1.4% during the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after buying an additional 24,796 shares during the last quarter. Capital World Investors boosted its position in shares of Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after acquiring an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in Kinsale Capital Group during the fourth quarter valued at $229,653,000. Finally, DAVENPORT & Co LLC grew its stake in Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after acquiring an additional 10,137 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on KNSL shares. Truist Financial decreased their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada cut their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald dropped their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $374.90.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares in the company, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $331.06 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market capitalization of $7.63 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. The company’s 50-day moving average is $315.01 and its 200 day moving average is $355.81.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.71 earnings per share. Research analysts forecast that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.