Thrivent Financial for Lutherans Cuts Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Thrivent Financial for Lutherans cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,019 shares of the financial services provider’s stock after selling 93,489 shares during the period. Kinsale Capital Group comprises about 0.6% of Thrivent Financial for Lutherans’ holdings, making the stock its 16th largest position. Thrivent Financial for Lutherans owned about 2.73% of Kinsale Capital Group worth $296,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KNSL. Headlands Technologies LLC purchased a new position in shares of Kinsale Capital Group during the 1st quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in shares of Kinsale Capital Group in the third quarter valued at $26,000. UMB Bank n.a. boosted its position in Kinsale Capital Group by 408.3% in the 3rd quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Trust Co. of Vermont grew its stake in Kinsale Capital Group by 113.6% during the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL stock opened at $465.24 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The stock’s fifty day moving average is $458.34 and its two-hundred day moving average is $429.09.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.31 EPS. On average, research analysts predict that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Analyst Ratings Changes

Several analysts recently weighed in on KNSL shares. Jefferies Financial Group boosted their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. 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 report on Monday, October 28th. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research note on Monday, October 28th. Finally, Truist Financial reduced their price target 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $455.88.

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.