Legal & General Group Plc Reduces Stake in Kinsale Capital Group, Inc. $KNSL

Legal & General Group Plc lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,240 shares of the financial services provider’s stock after selling 1,893 shares during the quarter. Legal & General Group Plc’s holdings in Kinsale Capital Group were worth $13,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KNSL. Bamco Inc. NY boosted its position in shares of Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after acquiring an additional 24,796 shares during the period. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $229,653,000. DAVENPORT & Co LLC increased its holdings in Kinsale Capital Group by 1.9% during the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after acquiring an additional 10,137 shares during the period. JPMorgan Chase & Co. lifted its stake in Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Kinsale Capital Group by 2.6% in the 3rd quarter. Invesco Ltd. now owns 274,724 shares of the financial services provider’s stock valued at $116,829,000 after purchasing an additional 6,934 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $295.11 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. Kinsale Capital Group, Inc. has a one year low of $293.78 and a one year high of $512.76. The business’s 50 day simple moving average is $329.41 and its two-hundred day simple moving average is $365.89. The stock has a market capitalization of $6.81 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. The firm had revenue of $466.71 million for 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 business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $3.71 earnings per share. Analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 4.40%.

Analyst Ratings Changes

A number of research analysts have recently commented on KNSL shares. Royal Bank Of Canada reduced their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Cantor Fitzgerald dropped their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group lowered Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Truist Financial lowered their target price on shares of 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. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $390.18.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was 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 owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the 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 position. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by insiders.

Kinsale Capital Group 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.