Amundi Sells 32,029 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Amundi reduced its Kinsale Capital Group position by 68% in the second quarter, selling 32,029 shares and retaining 15,081 shares valued at approximately $4.97 million. Institutional investors collectively own 85.36% of KNSL.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates by $0.43 and revenue of $548.52 million, up 16.8% year over year and well above analyst expectations.
• The stock opened at $359.83, while analysts maintain a consensus “Reduce” rating with an average price target of $368.78. Kinsale also declared a quarterly dividend of $0.25 per share, implying a 0.3% annual yield.

Amundi lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 68.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,081 shares of the financial services provider's stock after selling 32,029 shares during the quarter. Amundi owned 0.07% of Kinsale Capital Group worth $4,974,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vident Advisory LLC increased its holdings in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock valued at $399,000 after buying an additional 23 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock worth $77,000 after acquiring an additional 28 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Kinsale Capital Group by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,161 shares of the financial services provider's stock worth $1,236,000 after acquiring an additional 35 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Kinsale Capital Group by 4.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 793 shares of the financial services provider's stock worth $271,000 after acquiring an additional 37 shares during the last quarter. Finally, Strategic Advisors LLC grew its position in shares of Kinsale Capital Group by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 8,553 shares of the financial services provider's stock valued at $3,346,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 0.8%

Shares of KNSL opened at $359.83 on Friday. The business's 50 day moving average is $363.22 and its 200 day moving average is $343.99. The company has a market capitalization of $8.20 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the company posted $4.78 EPS. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is currently 4.05%.

Wall Street Analyst Weigh In

KNSL has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Weiss Ratings upgraded Kinsale Capital Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their price target on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $368.78.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty insurance company headquartered in Richmond, Virginia. Through its principal subsidiary, Kinsale Insurance Company, the company provides property and casualty insurance products in the excess and surplus lines market, which serves risks that may not be covered by standard insurance carriers.

Kinsale's offerings include commercial property, casualty and specialty insurance for businesses and organizations with complex or higher-risk exposures.

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