Oppenheimer Asset Management Inc. Increases Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Oppenheimer Asset Management Inc. grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 19,820 shares of the financial services provider’s stock after buying an additional 180 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kinsale Capital Group were worth $9,647,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KNSL. GAMMA Investing LLC raised its holdings in Kinsale Capital Group by 59,220.7% during the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider’s stock worth $150,423,000 after purchasing an additional 308,540 shares in the last quarter. Norges Bank purchased a new position in Kinsale Capital Group during the fourth quarter worth about $89,200,000. Alliancebernstein L.P. raised its holdings in Kinsale Capital Group by 486.3% during the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider’s stock worth $99,559,000 after purchasing an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd raised its holdings in Kinsale Capital Group by 20,286.0% during the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider’s stock worth $48,813,000 after purchasing an additional 104,270 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Kinsale Capital Group during the fourth quarter worth about $22,933,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the transaction, the executive vice president now owns 6,646 shares of the company’s stock, valued at $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is owned by company insiders.

Kinsale Capital Group Stock Up 0.7%

KNSL stock opened at $479.46 on Tuesday. The company’s 50 day simple moving average is $464.38 and its 200-day simple moving average is $460.11. The firm has a market capitalization of $11.18 billion, a PE ratio of 27.59, a P/E/G ratio of 1.80 and a beta of 1.20. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, beating the consensus estimate of $3.15 by $0.56. The business had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 earnings per share. Equities analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Bank of America initiated coverage on shares of Kinsale Capital Group in a report on Friday. They set a “buy” rating and a $543.00 price target for the company. Morgan Stanley upped their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Truist Financial lowered their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price 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. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $491.88.

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.