Prudential Financial Inc. Reduces Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Prudential Financial Inc. lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 48.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,031 shares of the financial services provider’s stock after selling 965 shares during the period. Prudential Financial Inc.’s holdings in Kinsale Capital Group were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Kinsale Capital Group by 11.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 200 shares of the financial services provider’s stock valued at $93,000 after buying an additional 21 shares during the period. Ballentine Partners LLC grew its stake in Kinsale Capital Group by 4.6% during the fourth quarter. Ballentine Partners LLC now owns 573 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 25 shares in the last quarter. Caprock Group LLC increased its holdings in Kinsale Capital Group by 1.7% during the 4th quarter. Caprock Group LLC now owns 1,653 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 28 shares during the period. Fielder Capital Group LLC lifted its stake in Kinsale Capital Group by 5.5% in the 4th quarter. Fielder Capital Group LLC now owns 595 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 31 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Kinsale Capital Group by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 716 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 36 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $471.26 on Thursday. The company has a 50-day simple moving average of $458.13 and a two-hundred day simple moving average of $461.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $10.97 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a one year low of $355.12 and a one year high of $531.79.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.39. The company had revenue of $412.12 million during the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a return on equity of 28.04% and a net margin of 26.13%. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.17 dividend. The ex-dividend date was Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is 3.82%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KNSL shares. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Finally, Truist Financial increased their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $468.56.

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.