Royal Bank of Canada Sells 8,560 Shares of Kinsale Capital Group, Inc. $KNSL

Royal Bank of Canada decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,867 shares of the financial services provider’s stock after selling 8,560 shares during the quarter. Royal Bank of Canada owned approximately 0.47% of Kinsale Capital Group worth $37,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KNSL. Life Cycle Investment Partners Ltd purchased a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $229,653,000. Capital World Investors boosted its stake in Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after acquiring an additional 533,499 shares in the last quarter. Norges Bank bought a new stake in Kinsale Capital Group during the fourth quarter worth about $107,916,000. First Manhattan CO. LLC. grew its holdings 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 worth $240,401,000 after purchasing an additional 100,600 shares during the period. Finally, M&T Bank Corp grew its holdings in Kinsale Capital Group by 2,621.6% in the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock worth $35,638,000 after purchasing an additional 87,770 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KNSL has been the subject of several recent research reports. Truist Financial lowered their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Morgan Stanley cut their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Cantor Fitzgerald dropped their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Wells Fargo & Company increased their target price on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada reduced their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $362.11.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $360.29 on Tuesday. The business’s fifty day simple moving average is $327.11 and its two-hundred day simple moving average is $347.62. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $485.00. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.13 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period last year, the company earned $4.78 EPS. Kinsale Capital Group’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts anticipate that Kinsale Capital Group, Inc. will post 21.12 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s payout ratio is presently 4.05%.

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.