Baird Financial Group Inc. Decreases Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Baird Financial Group Inc. significantly reduced its stake in Kinsale Capital Group by 91.9%, owning just 12,403 shares worth approximately $6.04 million at the end of the first quarter.
• Kinsale Capital Group reported earnings per share of $4.78, surpassing expectations and showing a 22.2% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.17 per share, with an annualized yield of 0.2%, set to be paid on September 11th.

Baird Financial Group Inc. trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 91.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,403 shares of the financial services provider's stock after selling 141,328 shares during the period. Baird Financial Group Inc. owned about 0.05% of Kinsale Capital Group worth $6,037,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA boosted its position in Kinsale Capital Group by 2.1% in the 1st quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock worth $627,000 after purchasing an additional 27 shares in the last quarter. Strategic Advisors LLC raised its holdings in shares of Kinsale Capital Group by 0.6% in the first quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after acquiring an additional 30 shares during the last quarter. Xponance Inc. boosted its position in shares of Kinsale Capital Group by 0.7% in the first quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock worth $2,188,000 after buying an additional 30 shares during the period. Foster Dykema Cabot & Partners LLC raised its position in shares of Kinsale Capital Group by 2.6% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 1,190 shares of the financial services provider's stock worth $579,000 after purchasing an additional 30 shares during the period. Finally, Wealth Alliance LLC boosted its stake in Kinsale Capital Group by 6.0% during the 1st quarter. Wealth Alliance LLC now owns 565 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KNSL shares. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial increased their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Stock Down 0.3%

Shares of NYSE:KNSL traded down $1.22 during mid-day trading on Monday, hitting $454.19. 84,288 shares of the company traded hands, compared to its average volume of 204,820. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $10.58 billion, a P/E ratio of 23.69, a PEG ratio of 1.67 and a beta of 1.13. The firm's 50 day simple moving average is $463.06 and its 200 day simple moving average is $462.16.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The company had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same period in the previous year, the firm earned $3.75 earnings per share. Kinsale Capital Group's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

Kinsale Capital Group Company 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.