Northern Trust Corp increased its position in shares of Kinsale Capital Group Inc (NASDAQ:KNSL) by 11.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 264,262 shares of the financial services provider’s stock after buying an additional 26,948 shares during the period. Northern Trust Corp’s holdings in Kinsale Capital Group were worth $14,497,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of KNSL. Hartford Investment Management Co. bought a new position in shares of Kinsale Capital Group during the second quarter worth about $329,000. Metropolitan Life Insurance Co. NY grew its stake in Kinsale Capital Group by 29.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 6,477 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 1,463 shares in the last quarter. Voya Investment Management LLC grew its stake in Kinsale Capital Group by 14.9% in the second quarter. Voya Investment Management LLC now owns 7,075 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 915 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Kinsale Capital Group in the second quarter valued at approximately $410,000. Finally, First Mercantile Trust Co. grew its stake in Kinsale Capital Group by 13.8% in the second quarter. First Mercantile Trust Co. now owns 7,839 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
In other news, SVP William J. Jr. Kenney sold 13,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $61.48, for a total value of $845,350.00. Following the completion of the sale, the senior vice president now directly owns 18,414 shares of the company’s stock, valued at $1,132,092.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick L. Jr. Russell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $61.31, for a total value of $61,310.00. Following the completion of the sale, the director now directly owns 1,111 shares of the company’s stock, valued at $68,115.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,750 shares of company stock valued at $1,981,170. Corporate insiders own 8.20% of the company’s stock.
A number of research analysts have weighed in on KNSL shares. BidaskClub downgraded Kinsale Capital Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. TheStreet upgraded Kinsale Capital Group from a “c” rating to a “b-” rating in a research note on Friday, July 27th. Royal Bank of Canada restated a “buy” rating and issued a $61.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, August 7th. SunTrust Banks restated a “buy” rating and issued a $65.00 price target on shares of Kinsale Capital Group in a research note on Wednesday, August 8th. Finally, Zacks Investment Research downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Kinsale Capital Group has an average rating of “Buy” and an average price target of $61.33.
KNSL stock opened at $60.42 on Monday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 48.34 and a beta of 0.63. Kinsale Capital Group Inc has a twelve month low of $41.40 and a twelve month high of $64.97.
Kinsale Capital Group (NASDAQ:KNSL) last posted its quarterly earnings results on Friday, November 2nd. The financial services provider reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. The firm had revenue of $60.14 million during the quarter, compared to the consensus estimate of $57.62 million. Kinsale Capital Group had a return on equity of 14.84% and a net margin of 16.33%. On average, equities research analysts predict that Kinsale Capital Group Inc will post 1.87 EPS for the current year.
Kinsale Capital Group Company Profile
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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