Vanguard Group Inc. Sells 20,545 Shares of Kinsale Capital Group, Inc. $KNSL

Vanguard Group Inc. reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,089,693 shares of the financial services provider’s stock after selling 20,545 shares during the period. Vanguard Group Inc. owned 8.98% of Kinsale Capital Group worth $888,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its position in Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 361 shares during the last quarter. CWM LLC boosted its stake in Kinsale Capital Group by 37.6% during the 2nd quarter. CWM LLC now owns 494 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 135 shares during the period. Ethic Inc. bought a new position in Kinsale Capital Group in the 2nd quarter worth approximately $527,000. Signature Wealth Management Group acquired a new position in shares of Kinsale Capital Group during the second quarter worth approximately $1,558,000. Finally, Bessemer Group Inc. grew its stake in shares of Kinsale Capital Group by 4.6% in the second quarter. Bessemer Group Inc. now owns 51,646 shares of the financial services provider’s stock worth $24,992,000 after acquiring an additional 2,264 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 0.1%

Shares of Kinsale Capital Group stock opened at $373.66 on Monday. Kinsale Capital Group, Inc. has a 12-month low of $341.06 and a 12-month high of $512.76. The stock has a market capitalization of $8.69 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company has a 50-day simple moving average of $394.47 and a 200 day simple moving average of $413.41. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. During the same period in the previous year, the business earned $4.62 earnings per share. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a dividend of $0.25 per share. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 3.14%.

Kinsale Capital Group declared that its board has approved a share repurchase program on Thursday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on KNSL shares. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Wells Fargo & Company assumed coverage on shares of Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 target price on the stock. Cantor Fitzgerald lowered their target price on shares of Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. Finally, Jefferies Financial Group restated a “hold” rating and set a $433.00 price target on shares of Kinsale Capital Group in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $457.00.

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.