Los Angeles Capital Management LLC Sells 619 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Los Angeles Capital Management LLC lessened its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 853 shares of the financial services provider’s stock after selling 619 shares during the period. Los Angeles Capital Management LLC’s holdings in Kinsale Capital Group were worth $448,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cim LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $1,934,000. Axiom Investors LLC DE grew its position in shares of Kinsale Capital Group by 116.3% in the 4th quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock valued at $14,781,000 after buying an additional 23,728 shares during the last quarter. Carnegie Capital Asset Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $8,002,000. The Manufacturers Life Insurance Company lifted its stake in shares of Kinsale Capital Group by 129.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock valued at $14,814,000 after purchasing an additional 24,992 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Kinsale Capital Group by 51.5% in the 4th quarter. Trexquant Investment LP now owns 8,899 shares of the financial services provider’s stock valued at $2,980,000 after purchasing an additional 3,026 shares during the period. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KNSL shares. Compass Point dropped their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. TD Cowen started coverage on Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. BMO Capital Markets dropped their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Finally, Truist Financial dropped their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $434.00.

Kinsale Capital Group Stock Down 1.4 %

KNSL stock opened at $385.19 on Wednesday. The stock’s 50 day simple moving average is $394.53 and its 200 day simple moving average is $419.48. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $8.97 billion, a P/E ratio of 25.59 and a beta of 1.07.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. On average, research analysts expect that Kinsale Capital Group, Inc. will post 14.94 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 13th. Stockholders of record on Friday, May 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Insider Transactions at Kinsale Capital Group

In other news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.