Principal Financial Group Inc. Has $17 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Principal Financial Group Inc. increased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.9% in the first quarter, Holdings Channel.com reports. The firm owned 49,758 shares of the financial services provider’s stock after purchasing an additional 2,312 shares during the quarter. Principal Financial Group Inc.’s holdings in Kinsale Capital Group were worth $17,000,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of KNSL. AQR Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Kinsale Capital Group by 72.9% during the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 43 shares during the period. Brown Advisory Inc. raised its holdings in shares of Kinsale Capital Group by 7.9% during the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC lifted its position in Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 634 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after acquiring an additional 1,566 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KNSL shares. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Wells Fargo & Company lifted their price target on Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of “Reduce” and an average price target of $373.80.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $325.63 on Thursday. The firm’s 50 day moving average is $319.83 and its 200-day moving average is $349.77. 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 company has a market capitalization of $7.51 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.09 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.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to analysts’ expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.71 earnings per share. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 20.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

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.