Alta Capital Management LLC Reduces Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Alta Capital Management LLC reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,519 shares of the financial services provider's stock after selling 1,720 shares during the period. Kinsale Capital Group accounts for about 1.2% of Alta Capital Management LLC's holdings, making the stock its 29th biggest position. Alta Capital Management LLC owned approximately 0.16% of Kinsale Capital Group worth $18,261,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Institute for Wealth Management LLC. purchased a new position in Kinsale Capital Group in the 1st quarter worth approximately $413,000. State of Alaska Department of Revenue raised its holdings in Kinsale Capital Group by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 2,591 shares of the financial services provider's stock worth $1,261,000 after purchasing an additional 65 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Kinsale Capital Group by 9.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 596 shares of the financial services provider's stock worth $290,000 after purchasing an additional 53 shares in the last quarter. Strategic Advisors LLC raised its holdings in Kinsale Capital Group by 0.6% in the 1st quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after purchasing an additional 30 shares in the last quarter. Finally, Precision Wealth Strategies LLC bought a new position in Kinsale Capital Group in the 1st quarter worth $338,000. 85.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president now owns 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KNSL has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Morgan Stanley raised their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Wall Street Zen cut shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Finally, Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday. They set a "buy" rating and a $543.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group currently has an average rating of "Hold" and a consensus price target of $491.88.

Kinsale Capital Group Stock Up 3.2%

Shares of KNSL stock traded up $14.81 on Friday, hitting $475.68. The stock had a trading volume of 234,876 shares, compared to its average volume of 176,174. The company has a market cap of $11.09 billion, a PE ratio of 27.37, a P/E/G ratio of 1.74 and a beta of 1.20. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $464.49 and a 200 day moving average price of $460.94. Kinsale Capital Group, Inc. has a one year low of $366.92 and a one year high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The business had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. The firm's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group's dividend payout ratio is presently 3.91%.

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.