Raymond James Financial Services Advisors Inc. Sells 2,840 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Raymond James Financial Services Advisors Inc. cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSLFree Report) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,374 shares of the financial services provider’s stock after selling 2,840 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.08% of Kinsale Capital Group worth $6,154,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. RiverPark Advisors LLC lifted its stake in shares of Kinsale Capital Group by 22.8% in the 4th quarter. RiverPark Advisors LLC now owns 296 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 55 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $253,000. Raymond James Trust N.A. boosted its stake in shares of Kinsale Capital Group by 30.5% during the fourth quarter. Raymond James Trust N.A. now owns 667 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 156 shares during the period. Beacon Capital Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $33,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $134,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares of the company’s stock, valued at $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 4,000 shares of the company’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 value of $2,094,920.00. Following the completion of the transaction, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on KNSL. JPMorgan Chase & Co. increased 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 report on Monday, February 26th. Truist Financial raised their target price on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. BMO Capital Markets downgraded Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. Finally, Royal Bank of Canada increased their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $510.00.

Read Our Latest Report on Kinsale Capital Group

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $452.74 on Thursday. Kinsale Capital Group, Inc. has a one year low of $292.37 and a one year high of $548.47. The firm has a market capitalization of $10.50 billion, a PE ratio of 34.27 and a beta of 0.89. The company has a 50-day simple moving average of $479.14 and a two-hundred day simple moving average of $412.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.12 and a quick ratio of 0.12.

Kinsale Capital Group (NYSE:KNSLGet Free Report) last issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.43. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The company had revenue of $351.17 million during the quarter, compared to analyst estimates of $367.98 million. During the same period last year, the business earned $2.60 EPS. Kinsale Capital Group’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 15.21 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.15 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. Kinsale Capital Group’s payout ratio is presently 4.54%.

Kinsale Capital Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kinsale Capital Group (NYSE:KNSL)

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