Harbor Capital Advisors Inc. Sells 510 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Harbor Capital Advisors Inc. lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure 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 large investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its holdings in Kinsale Capital Group by 113.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after purchasing an additional 2,172 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Kinsale Capital Group by 44.3% in the first quarter. Russell Investments Group Ltd. now owns 37,328 shares of the financial services provider’s stock valued at $19,588,000 after acquiring an additional 11,451 shares during the period. Swedbank AB purchased a new position in Kinsale Capital Group during the second quarter valued at approximately $15,430,000. QRG Capital Management Inc. purchased a new stake in Kinsale Capital Group in the 2nd quarter worth approximately $503,000. Finally, Bridges Investment Management Inc. bought a new position in Kinsale Capital Group in the 2nd quarter valued at $642,000. 85.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on KNSL shares. JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a research report on Monday, October 28th. Truist Financial decreased their price objective 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. Jefferies Financial Group lifted their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer started coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $455.88.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $424.05 on Tuesday. The firm has a fifty day simple moving average of $461.62 and a two-hundred day simple moving average of $426.74. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The company has a market capitalization of $9.88 billion, a PE ratio of 24.18, a P/E/G ratio of 1.89 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. Kinsale Capital Group’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.31 EPS. Research analysts expect that Kinsale Capital Group, Inc. will post 15.13 EPS for the current year.

Kinsale Capital Group Announces Dividend

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

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.