Alta Capital Management LLC Has $11.44 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Alta Capital Management cut its stake in Kinsale Capital Group by 20% in the fourth quarter, leaving it with 29,242 shares valued at about $11.44 million.
• Kinsale Capital Group reported better-than-expected quarterly results, with EPS of $5.11 versus the $4.70 estimate and revenue of $466.71 million versus the $410.25 million forecast.
• The company declared a quarterly dividend of $0.25 per share, while analysts currently rate the stock a consensus "Hold" with a price target of $392.00.

Alta Capital Management LLC trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,242 shares of the financial services provider's stock after selling 7,296 shares during the quarter. Alta Capital Management LLC owned approximately 0.13% of Kinsale Capital Group worth $11,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KNSL. AQR Capital Management LLC grew its holdings in Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after acquiring an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock worth $49,000 after acquiring an additional 43 shares during the last quarter. Brown Advisory Inc. grew its holdings in Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock worth $541,000 after acquiring an additional 82 shares during the last quarter. Jump Financial LLC grew its holdings in Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock worth $531,000 after acquiring an additional 634 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock worth $2,430,000 after acquiring an additional 1,566 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Up 4.5%

Kinsale Capital Group stock opened at $325.19 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12-month low of $293.78 and a 12-month high of $512.76. The firm's fifty day moving average is $338.93 and its 200 day moving average is $371.87. The company has a market capitalization of $7.50 billion, a PE ratio of 14.31, a PEG ratio of 1.01 and a beta of 0.95.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same quarter in the prior year, the company posted $3.71 earnings per share. The business's revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 20.58 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.40%.

Insiders Place Their Bets

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. BMO Capital Markets lowered shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective on the stock. in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of 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. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell 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 $392.00.

About Kinsale Capital Group

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.

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