PNC Financial Services Group Inc. grew its holdings in shares of Kinsale Capital Group Inc (NASDAQ:KNSL) by 37.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,742 shares of the financial services provider’s stock after purchasing an additional 2,906 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of Kinsale Capital Group worth $551,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of KNSL. US Bancorp DE lifted its holdings in shares of Kinsale Capital Group by 60.6% during the 4th quarter. US Bancorp DE now owns 3,106 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 1,172 shares during the last quarter. Aperio Group LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth $234,000. Suntrust Banks Inc. purchased a new position in Kinsale Capital Group in the 4th quarter worth $254,000. FDx Advisors Inc. purchased a new position in Kinsale Capital Group in the 1st quarter worth $266,000. Finally, Teacher Retirement System of Texas purchased a new position in Kinsale Capital Group in the 4th quarter worth $293,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.
KNSL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, April 6th. ValuEngine upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, BidaskClub lowered Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $49.67.
In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 1,000 shares of Kinsale Capital Group stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $56.06, for a total transaction of $56,060.00. Following the completion of the transaction, the director now owns 1,111 shares in the company, valued at approximately $62,282.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.20% of the company’s stock.
Shares of Kinsale Capital Group opened at $51.94 on Friday, MarketBeat.com reports. The firm has a market capitalization of $1.07 billion, a P/E ratio of 41.55 and a beta of 0.13. Kinsale Capital Group Inc has a 1 year low of $34.70 and a 1 year high of $56.69.
Kinsale Capital Group (NASDAQ:KNSL) last issued its earnings results on Friday, May 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.38. The company had revenue of $50.13 million during the quarter, compared to analyst estimates of $50.93 million. Kinsale Capital Group had a return on equity of 12.29% and a net margin of 13.34%. analysts forecast that Kinsale Capital Group Inc will post 2.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Monday, June 4th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, June 1st. This represents a $0.28 dividend on an annualized basis and a yield of 0.54%. Kinsale Capital Group’s dividend payout ratio (DPR) is 22.40%.
About Kinsale Capital Group
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.
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