Dearborn Partners LLC Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Dearborn Partners LLC cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,930 shares of the financial services provider’s stock after selling 905 shares during the period. Dearborn Partners LLC’s holdings in Kinsale Capital Group were worth $1,364,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Kinsale Capital Group in the first quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in Kinsale Capital Group during the 3rd quarter worth about $26,000. UMB Bank n.a. boosted its position in shares of Kinsale Capital Group by 408.3% during the 3rd 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 in the last quarter. Trust Co. of Vermont increased its holdings in shares of Kinsale Capital Group by 113.6% in the 2nd 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 during the last quarter. Finally, Signaturefd LLC raised its position in shares of Kinsale Capital Group by 68.9% during the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 42 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KNSL shares. Royal Bank of Canada dropped their price target 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. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial decreased their target price on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $455.88.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $473.41 on Friday. The firm has a fifty day simple moving average of $458.10 and a 200-day simple moving average of $427.57. The company has a market capitalization of $11.03 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter in the previous year, the company earned $3.31 EPS. Kinsale Capital Group’s revenue was up 33.0% on a year-over-year basis. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current fiscal year.

About Kinsale Capital Group

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.