Harbor Capital Advisors Inc. Lowers Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Harbor Capital Advisors Inc. lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,840 shares of the financial services provider’s stock after selling 510 shares during the period. Harbor Capital Advisors Inc.’s holdings in Kinsale Capital Group were worth $2,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KNSL. Headlands Technologies LLC purchased a new stake in shares of Kinsale Capital Group in the 1st quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in Kinsale Capital Group in the third quarter worth $26,000. UMB Bank n.a. grew its stake in shares of Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 50 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KNSL. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a report on Monday, October 28th. Royal Bank of Canada cut their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, Jefferies Financial Group boosted their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $424.05 on Tuesday. The firm has a market capitalization of $9.88 billion, a P/E ratio of 24.18, a PEG ratio of 1.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The business has a fifty day moving average of $461.62 and a 200 day moving average of $426.74.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating the consensus estimate of $3.60 by $0.60. The firm had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.31 EPS. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 15.13 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.42%.

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.