Kinsale Capital Group, Inc. $KNSL Position Cut by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. has reduced its stake in Kinsale Capital Group by 4.3%, holding 39,240 shares after selling 1,755 shares, making it the 19th biggest holding for the fund.
• Kinsale Capital Group reported an earnings per share (EPS) of $4.78, exceeding analysts' expectations of $4.41, while also achieving a revenue of $458.70 million for the quarter.
• The company recently announced a quarterly dividend of $0.17, with a yield of 0.1%, payable on September 11th to shareholders of record on August 29th.

Ashford Capital Management Inc. lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,240 shares of the financial services provider's stock after selling 1,755 shares during the period. Kinsale Capital Group comprises 2.5% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 19th biggest position. Ashford Capital Management Inc. owned approximately 0.17% of Kinsale Capital Group worth $19,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position in shares of Kinsale Capital Group by 11.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,422 shares of the financial services provider's stock worth $661,000 after acquiring an additional 148 shares in the last quarter. Northern Trust Corp grew its stake in shares of Kinsale Capital Group by 16.8% in the 4th quarter. Northern Trust Corp now owns 216,616 shares of the financial services provider's stock valued at $100,755,000 after purchasing an additional 31,094 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $209,000. Schonfeld Strategic Advisors LLC acquired a new position in Kinsale Capital Group during the fourth quarter worth $877,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Kinsale Capital Group by 135.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,086 shares of the financial services provider's stock worth $970,000 after purchasing an additional 1,201 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley upped their target price 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. BMO Capital Markets upped their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Truist Financial increased their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock traded down $3.31 during mid-day trading on Wednesday, reaching $451.99. The company's stock had a trading volume of 159,743 shares, compared to its average volume of 206,264. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.68 and a beta of 1.13. The business has a 50 day moving average price of $464.05 and a 200-day moving average price of $461.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79.

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 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm's revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.75 earnings per share. Sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm 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. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's payout ratio is currently 3.55%.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction on 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 owned 6,646 shares of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

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.