Retirement Systems of Alabama Acquires 27 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Retirement Systems of Alabama raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,900 shares of the financial services provider’s stock after acquiring an additional 27 shares during the quarter. Retirement Systems of Alabama’s holdings in Kinsale Capital Group were worth $12,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KNSL. Westfield Capital Management Co. LP lifted its stake in shares of Kinsale Capital Group by 65.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock valued at $69,471,000 after purchasing an additional 58,971 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after buying an additional 57,460 shares during the period. International Assets Investment Management LLC boosted its holdings in Kinsale Capital Group by 76,986.9% during the third quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock worth $21,892,000 after buying an additional 46,962 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of Kinsale Capital Group by 9.6% during the 4th quarter. DAVENPORT & Co LLC now owns 511,869 shares of the financial services provider’s stock worth $238,193,000 after buying an additional 44,931 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at approximately $18,599,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial lowered their target price on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Finally, Morgan Stanley assumed coverage on Kinsale Capital Group in a report on Thursday, December 5th. They set an “overweight” rating and a $593.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and an average target price of $468.89.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at $3,566,940. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction that occurred 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 sale, the director now 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. Over the last 90 days, insiders sold 7,235 shares of company stock valued at $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 1.2 %

NYSE KNSL opened at $488.77 on Friday. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.62 and a beta of 1.15. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $548.47. The stock’s 50 day moving average price is $462.82 and its two-hundred day moving average price is $462.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group Announces Dividend

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

About Kinsale Capital Group

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.