Bank of America Corp DE Lowers Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of America Corp DE lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 8.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,381 shares of the financial services provider’s stock after selling 7,549 shares during the period. Bank of America Corp DE’s holdings in Kinsale Capital Group were worth $40,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock valued at $9,310,000 after acquiring an additional 4,644 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Kinsale Capital Group by 11.8% in the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock worth $18,299,000 after purchasing an additional 4,146 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth $1,071,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kinsale Capital Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider’s stock valued at $70,907,000 after purchasing an additional 3,970 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter valued at $1,736,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 4.5%

NYSE:KNSL opened at $458.94 on Friday. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The company has a 50 day simple moving average of $464.13 and a two-hundred day simple moving average of $461.51. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $10.70 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The firm had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the previous year, the firm posted $3.50 EPS. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KNSL shares. Truist Financial decreased their target price on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. 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 report on Tuesday, February 18th. Morgan Stanley cut their target price on shares of Kinsale Capital Group from $515.00 to $490.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $470.00.

Kinsale Capital Group Company 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.