Alliancebernstein L.P. Sells 26,157 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Alliancebernstein L.P. decreased its stake in Kinsale Capital Group (NYSE:KNSL) by 12.2%, holding 187,888 shares valued at approximately $91.45 million.
• Kinsale Capital Group reported a quarterly earnings per share of $4.78, exceeding estimates of $4.41, with revenue growth of 22.2% compared to the previous year.
• The company has announced a quarterly dividend of $0.17 per share, with a payout ratio of 3.55% and a dividend yield of 0.1%.

Alliancebernstein L.P. lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 12.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,888 shares of the financial services provider's stock after selling 26,157 shares during the period. Alliancebernstein L.P. owned about 0.81% of Kinsale Capital Group worth $91,447,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $877,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Kinsale Capital Group by 135.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,086 shares of the financial services provider's stock valued at $970,000 after purchasing an additional 1,201 shares in the last quarter. AXA S.A. boosted its stake in shares of Kinsale Capital Group by 75.5% in the 4th quarter. AXA S.A. now owns 3,213 shares of the financial services provider's stock valued at $1,494,000 after purchasing an additional 1,382 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Kinsale Capital Group by 105.9% during the 4th quarter. Ameriprise Financial Inc. now owns 89,253 shares of the financial services provider's stock worth $41,509,000 after buying an additional 45,896 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in Kinsale Capital Group by 7.0% during the 4th quarter. Benjamin Edwards Inc. now owns 961 shares of the financial services provider's stock worth $447,000 after buying an additional 63 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL traded down $16.58 during trading on Wednesday, hitting $425.72. 196,977 shares of the company were exchanged, compared to its average volume of 205,472. 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 52-week low of $405.00 and a 52-week high of $531.79. The company has a market cap of $9.92 billion, a PE ratio of 22.17, a P/E/G ratio of 1.66 and a beta of 1.13. The stock has a 50 day moving average of $461.69 and a 200 day moving average of $462.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same period in the previous year, the company posted $3.75 EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, August 29th. Kinsale Capital Group's payout ratio is presently 3.55%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KNSL. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial lifted their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Compass Point increased their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus price target of $505.80.

About Kinsale Capital Group

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.