OLD National Bancorp IN Purchases 165 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

OLD National Bancorp IN increased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 721 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. OLD National Bancorp IN’s holdings in Kinsale Capital Group were worth $241,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Carnegie Capital Asset Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $8,002,000. Navellier & Associates Inc. bought a new stake in Kinsale Capital Group during the third quarter valued at approximately $975,000. Scout Investments Inc. lifted its position in Kinsale Capital Group by 38.0% during the third quarter. Scout Investments Inc. now owns 94,729 shares of the financial services provider’s stock valued at $38,780,000 after purchasing an additional 26,084 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in Kinsale Capital Group by 116.1% during the third quarter. Jupiter Asset Management Ltd. now owns 12,381 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 6,651 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its position in Kinsale Capital Group by 154.5% during the fourth quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after purchasing an additional 198,129 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael P. Kehoe sold 4,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $434.00 to $544.00 in a report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Finally, Truist Financial boosted their price objective on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and an average price target of $510.00.

Kinsale Capital Group Stock Down 1.2 %

Shares of NYSE KNSL opened at $453.09 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The firm’s fifty day moving average is $494.22 and its 200 day moving average is $416.33. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 34.30 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.43. The business had revenue of $351.17 million for the quarter, compared to the consensus estimate of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 EPS. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 15.26 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were paid a $0.15 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. Kinsale Capital Group’s payout ratio is presently 4.54%.

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.