Ameriprise Financial Inc. Sells 5,286 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Ameriprise Financial Inc. reduced its holdings in Kinsale Capital Group by 5.9% in the first quarter, holding 83,967 shares valued at $40.88 million after the sale.
• Significant investor activity was noted, with GAMMA Investing LLC increasing its stake by 59,220.7%, while JPMorgan Chase & Co. raised its position by 39.8%.
• Kinsale Capital Group reported earnings of $4.78 EPS, surpassing expectations, and announced a quarterly dividend of $0.17 to be paid on September 11th.

Ameriprise Financial Inc. cut its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,967 shares of the financial services provider's stock after selling 5,286 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.36% of Kinsale Capital Group worth $40,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc boosted its holdings 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 worth $26,000 after purchasing an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Kinsale Capital Group during the first quarter worth about $31,000. NBC Securities Inc. bought a new stake in Kinsale Capital Group in the first quarter worth about $35,000. von Borstel & Associates Inc. bought a new stake in Kinsale Capital Group in the first quarter worth about $42,000. Finally, Anderson Financial Strategies LLC bought a new stake in Kinsale Capital Group in the fourth quarter worth about $54,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the transaction, the executive vice president directly owned 6,646 shares in the company, valued at $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on KNSL shares. Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. BMO Capital Markets lifted their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Compass Point lifted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock traded down $3.90 during midday trading on Tuesday, reaching $453.55. 145,909 shares of the stock were exchanged, compared to its average volume of 205,785. 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 52 week low of $405.00 and a 52 week high of $531.79. The firm has a market cap of $10.57 billion, a PE ratio of 23.66, a PEG ratio of 1.68 and a beta of 1.13. The company's fifty day moving average is $464.49 and its 200-day moving average is $461.83.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced 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 net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the prior year, the company earned $3.75 EPS. The firm's revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Friday, August 29th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 0.1%. Kinsale Capital Group's dividend payout ratio is 3.55%.

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.