Bamco Inc. NY Sells 7,389 Shares of Kinsale Capital Group, Inc. $KNSL

Bamco Inc. NY cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,781,201 shares of the financial services provider’s stock after selling 7,389 shares during the period. Kinsale Capital Group makes up approximately 1.9% of Bamco Inc. NY’s investment portfolio, making the stock its 13th largest holding. Bamco Inc. NY owned 0.08% of Kinsale Capital Group worth $696,663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNSL. Life Cycle Investment Partners Ltd bought a new position in Kinsale Capital Group during the fourth quarter worth about $229,653,000. Capital World Investors lifted its holdings 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 position in Kinsale Capital Group during the fourth quarter worth about $107,916,000. M&T Bank Corp lifted its holdings in Kinsale Capital Group by 2,621.6% during the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock worth $35,638,000 after acquiring an additional 87,770 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in Kinsale Capital Group by 1,141.4% during the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock worth $39,546,000 after acquiring an additional 75,141 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Performance

KNSL opened at $309.05 on Thursday. The business’s 50-day moving average price is $321.92 and its two-hundred day moving average price is $359.08. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.01 and a beta of 0.91. 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 (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.71 earnings per share. Equities analysts expect that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank Of Canada dropped their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Morgan Stanley dropped 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. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price target for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. dropped their price target on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $390.18.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by company 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.