PAX Financial Group LLC Reduces Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

PAX Financial Group LLC reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,062 shares of the financial services provider’s stock after selling 65 shares during the period. PAX Financial Group LLC’s holdings in Kinsale Capital Group were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group during the 4th quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $31,000. Larson Financial Group LLC raised its stake in Kinsale Capital Group by 7,400.0% in the 4th quarter. Larson Financial Group LLC now owns 75 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 74 shares during the last quarter. Allworth Financial LP lifted its position in Kinsale Capital Group by 450.0% during the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 72 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Kinsale Capital Group during the 4th quarter valued at about $46,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Truist Financial increased their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their price target 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. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Trading Down 7.8 %

Shares of Kinsale Capital Group stock opened at $459.89 on Friday. The firm has a 50-day simple moving average of $457.25 and a two-hundred day simple moving average of $461.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a fifty-two week low of $355.12 and a fifty-two week high of $531.79. The company has a market cap of $10.70 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.66 and a beta of 1.16.

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

Kinsale Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.82%.

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.