Stephens Investment Management Group LLC Sells 85,118 Shares of Kinsale Capital Group, Inc. $KNSL

Stephens Investment Management Group LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 40.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,957 shares of the financial services provider’s stock after selling 85,118 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Kinsale Capital Group were worth $42,009,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bamco Inc. NY grew its holdings in shares of Kinsale Capital Group by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock worth $760,616,000 after purchasing an additional 24,796 shares during the last quarter. Capital World Investors lifted its holdings in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after purchasing an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. boosted its position in Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after buying an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the fourth quarter worth about $229,653,000. Finally, DAVENPORT & Co LLC increased its holdings in shares of Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after buying an additional 10,137 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KNSL has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Cantor Fitzgerald decreased their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Morgan Stanley dropped their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Truist Financial reduced their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $374.90.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $353.92 on Friday. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.15 and a beta of 0.90. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $314.14 and a 200 day moving average price of $354.91.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period in the prior year, the company posted $3.71 EPS. The company’s revenue was down .5% compared to the same quarter last year. Research analysts expect that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.40%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This trade represents a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company Profile

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.