Kinsale Capital Group, Inc. $KNSL Stake Lowered by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Kinsale Capital Group by 10.5%, now holding approximately 13,907 shares valued at about $6.77 million.
• Kinsale Capital Group reported an earnings per share of $4.78 for the last quarter, exceeding analysts' expectations of $4.41, along with revenue of $458.7 million.
• The stock currently has an average rating of "Hold" from analysts, with a price target around $505.80.

Algert Global LLC lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,907 shares of the financial services provider's stock after selling 1,630 shares during the period. Algert Global LLC owned approximately 0.06% of Kinsale Capital Group worth $6,769,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc grew its position in Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 41 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at about $31,000. NBC Securities Inc. acquired a new position in shares of Kinsale Capital Group during the first quarter worth about $35,000. von Borstel & Associates Inc. acquired a new position in shares of Kinsale Capital Group during the first quarter worth about $42,000. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Down 1.1%

Shares of NYSE:KNSL traded down $4.8520 during trading on Friday, hitting $454.2080. The company's stock had a trading volume of 110,420 shares, compared to its average volume of 206,581. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79. The stock's 50-day moving average price is $466.15 and its two-hundred day moving average price is $463.14. The company has a market capitalization of $10.58 billion, a PE ratio of 23.69, a PEG ratio of 1.69 and a beta of 1.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The business had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the previous year, the firm posted $3.75 earnings per share. The company's revenue was up 22.2% compared to the same quarter last year. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial boosted their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Compass Point boosted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets boosted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Company 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.