Blair William & Co. IL Sells 32,240 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Blair William & Co. IL reduced its stake in Kinsale Capital Group by 40%, owning 48,389 shares after selling 32,240 shares during the first quarter.
• Kinsale Capital Group reported a net revenue increase of 22.2% year-over-year, with earnings per share of $4.78, surpassing analysts’ estimates.
• Analysts have raised price targets for Kinsale Capital Group, with new targets reaching up to $560 and a consensus average target price of $506.44.

Blair William & Co. IL reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,389 shares of the financial services provider's stock after selling 32,240 shares during the period. Blair William & Co. IL owned 0.21% of Kinsale Capital Group worth $23,552,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IFG Advisory LLC lifted its holdings in Kinsale Capital Group by 20.4% during the 1st quarter. IFG Advisory LLC now owns 607 shares of the financial services provider's stock worth $296,000 after purchasing an additional 103 shares during the last quarter. Blueshift Asset Management LLC bought a new position in Kinsale Capital Group during the 1st quarter worth $241,000. Jefferies Financial Group Inc. increased its position in Kinsale Capital Group by 185.7% during the 1st quarter. Jefferies Financial Group Inc. now owns 1,383 shares of the financial services provider's stock worth $673,000 after buying an additional 899 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Kinsale Capital Group during the first quarter worth $681,000. Finally, US Bancorp DE boosted its position in shares of Kinsale Capital Group by 17.9% in the first quarter. US Bancorp DE now owns 4,045 shares of the financial services provider's stock valued at $1,969,000 after acquiring an additional 614 shares during the period. 85.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Truist Financial raised their target price 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. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Bank of America initiated coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $506.44.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $444.39 on Monday. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company's 50 day simple moving average is $472.48 and its 200 day simple moving average is $462.73.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating 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 firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same quarter last year, the business posted $3.75 EPS. The company's revenue was up 22.2% compared to the same quarter last year. As a group, research 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 announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's payout ratio is presently 3.55%.

Insider Buying and Selling

In other news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

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.

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