M&T Bank Corp Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

M&T Bank Corp lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,618 shares of the financial services provider’s stock after selling 128 shares during the quarter. M&T Bank Corp’s holdings in Kinsale Capital Group were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Wealth Partners LLC acquired a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. raised its position in Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 49 shares in the last quarter. Signaturefd LLC raised its position in Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 79 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $55,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Trading Down 0.0 %

Shares of Kinsale Capital Group stock opened at $506.73 on Monday. The business has a 50 day moving average price of $474.35 and a 200 day moving average price of $445.39. The company has a market capitalization of $11.80 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business’s revenue was up 33.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.31 earnings per share. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Morgan Stanley began coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price for the company. Royal Bank of Canada decreased their price target on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Truist Financial dropped their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and a consensus target price of $472.00.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the sale, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total value of $1,147,018.05. Following the transaction, the director now directly owns 7,348 shares in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

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.