Gallacher Capital Management LLC Reduces Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Gallacher Capital Management LLC lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.4% during the 4th quarter, Holdings Channel reports. The firm owned 797 shares of the financial services provider’s stock after selling 156 shares during the quarter. Gallacher Capital Management LLC’s holdings in Kinsale Capital Group were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of KNSL. Aigen Investment Management LP purchased a new stake in Kinsale Capital Group during the 3rd quarter worth approximately $260,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Kinsale Capital Group by 1.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,203 shares of the financial services provider’s stock valued at $3,354,000 after acquiring an additional 135 shares during the last quarter. KBC Group NV boosted its holdings in shares of Kinsale Capital Group by 11.0% in the 3rd quarter. KBC Group NV now owns 584 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 58 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Kinsale Capital Group by 55.1% in the 3rd quarter. Huntington National Bank now owns 318 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 113 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Kinsale Capital Group in the 3rd quarter valued at $241,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of Kinsale Capital Group in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets upped their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Finally, Truist Financial upped their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $455.32 on Friday. The company’s fifty day moving average price is $443.43 and its 200 day moving average price is $461.29. Kinsale Capital Group, Inc. has a 1 year low of $355.12 and a 1 year high of $536.84. The company has a market capitalization of $10.60 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. The company had revenue of $412.12 million during the quarter, compared to analysts’ expectations of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

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.