Kinsale Capital Group, Inc. $KNSL Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 22.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 36,195 shares of the financial services provider’s stock after selling 10,365 shares during the period. Handelsbanken Fonder AB owned 0.16% of Kinsale Capital Group worth $11,937,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KNSL. Bayban acquired a new position in Kinsale Capital Group in the fourth quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group in the 4th quarter worth approximately $29,000. Johnson Financial Group Inc. boosted its stake in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the period. Larson Financial Group LLC grew its stake in shares of Kinsale Capital Group by 225.0% during the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Kinsale Capital Group during the 2nd quarter valued at approximately $38,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KNSL has been the subject of several recent analyst reports. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley dropped their price target on shares of 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. Truist Financial lowered their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Weiss Ratings cut Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Kinsale Capital Group presently has an average rating of “Reduce” and a consensus price target of $362.11.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $376.78 on Friday. The company has a 50 day simple moving average of $338.31 and a 200-day simple moving average of $345.91. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the business posted $4.78 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is 4.05%.

Insider Activity

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

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.