Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,630 shares of the financial services provider’s stock after selling 2,849 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.39% of Kinsale Capital Group worth $47,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Kinsale Capital Group during the first quarter worth about $196,358,000. Royal London Asset Management Ltd. increased its position in Kinsale Capital Group by 4,798.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 245,684 shares of the financial services provider’s stock worth $101,692,000 after purchasing an additional 240,668 shares during the period. Norges Bank purchased a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $78,562,000. DAVENPORT & Co LLC lifted its holdings in shares of Kinsale Capital Group by 154.5% in the 4th quarter. DAVENPORT & Co LLC now owns 326,378 shares of the financial services provider’s stock valued at $109,362,000 after buying an additional 198,129 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Kinsale Capital Group by 33,266.0% in the 4th quarter. International Assets Investment Management LLC now owns 178,842 shares of the financial services provider’s stock valued at $59,896,000 after buying an additional 178,306 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinsale Capital Group

In related news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KNSL shares. Truist Financial reduced their target price on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Compass Point decreased their price objective on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. TD Cowen initiated coverage on shares of Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 target price for the company. BMO Capital Markets reduced their price target on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $434.00.

Kinsale Capital Group Trading Up 0.3 %

Shares of Kinsale Capital Group stock opened at $382.64 on Thursday. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50 day moving average price of $385.84 and a 200 day moving average price of $420.86. The company has a market capitalization of $8.91 billion, a P/E ratio of 25.42 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. The company had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 earnings per share. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 14.94 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

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.