Blair William & Co. IL Decreases Stock Holdings in 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 cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 0.21% of Kinsale Capital Group worth $23,552,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KNSL. Geode Capital Management LLC increased its stake in Kinsale Capital Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 544,954 shares of the financial services provider's stock worth $254,441,000 after buying an additional 16,246 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Kinsale Capital Group by 6.2% in the 1st quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock worth $263,233,000 after buying an additional 31,480 shares in the last quarter. GAMMA Investing LLC increased its stake in Kinsale Capital Group by 59,220.7% in the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock worth $150,423,000 after buying an additional 308,540 shares in the last quarter. Northern Trust Corp increased its stake in 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 worth $100,755,000 after buying an additional 31,094 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Kinsale Capital Group by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 198,904 shares of the financial services provider's stock valued at $92,519,000 after purchasing an additional 4,380 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on KNSL shares. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Morgan Stanley lifted their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Bank of America initiated coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price target for the company. BMO Capital Markets boosted 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 note on Tuesday, July 29th. Finally, Compass Point lifted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and an average target price of $506.44.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $4.65 during mid-day trading on Thursday, hitting $440.34. The company's stock had a trading volume of 92,209 shares, compared to its average volume of 206,933. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. 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 stock has a market cap of $10.26 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.64 and a beta of 1.12. The business's fifty day moving average is $471.55 and its two-hundred day moving average is $462.67.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same period in the prior year, the company posted $3.75 EPS. The company's revenue for the quarter was up 22.2% on a year-over-year basis. Analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, May 29th. This represents a dividend yield of 15.0%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group 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 completion of the sale, the executive vice president 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 Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is owned by corporate insiders.

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.