Kinsale Capital Group, Inc. $KNSL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,077 shares of the financial services provider’s stock after selling 3,961 shares during the period. Principal Financial Group Inc.’s holdings in Kinsale Capital Group were worth $20,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new position in Kinsale Capital Group during the second quarter worth $38,000. Root Financial Partners LLC purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $33,000. VSM Wealth Advisory LLC purchased a new stake in shares of Kinsale Capital Group during the 2nd quarter worth $39,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Kinsale Capital Group during the 3rd quarter worth $43,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Kinsale Capital Group by 72.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 43 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Cantor Fitzgerald dropped their target price on shares of Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Morgan Stanley reissued an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, TD Cowen reduced their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $476.60.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $414.87 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The business’s fifty day moving average price is $392.19 and its two-hundred day moving average price is $418.30. The stock has a market cap of $9.65 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. Kinsale Capital Group, Inc. has a one year low of $349.00 and a one year high of $512.76.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is 4.91%.

Kinsale Capital Group declared that its board has initiated a share buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

About Kinsale Capital Group

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.