Catalyst Capital Advisors LLC Sells 660 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Catalyst Capital Advisors LLC has reduced its stake in Kinsale Capital Group by 47.1%, selling 660 shares to now own 740 shares valued at approximately $358,000.
• Several institutional investors have increased their positions in Kinsale, with DAVENPORT & Co LLC lifting its position by 6.2%, while JPMorgan Chase & Co. raised its position by 39.8%.
• Kinsale Capital Group's latest earnings report showed an EPS of $5.21, surpassing analyst estimates, and the company recently announced a quarterly dividend of $0.17 per share.

Catalyst Capital Advisors LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 47.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 740 shares of the financial services provider's stock after selling 660 shares during the period. Catalyst Capital Advisors LLC's holdings in Kinsale Capital Group were worth $358,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. DAVENPORT & Co LLC lifted its position in shares of Kinsale Capital Group by 6.2% during the first quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock worth $263,233,000 after acquiring an additional 31,480 shares in the last quarter. JPMorgan Chase & Co. raised its position in Kinsale Capital Group by 39.8% during the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after purchasing an additional 131,056 shares in the last quarter. Geneva Capital Management LLC raised its position in Kinsale Capital Group by 0.6% during the first quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider's stock valued at $197,294,000 after purchasing an additional 2,449 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at about $125,003,000. Finally, Dimensional Fund Advisors LP raised its position in Kinsale Capital Group by 13.2% during the first quarter. Dimensional Fund Advisors LP now owns 225,186 shares of the financial services provider's stock valued at $109,589,000 after purchasing an additional 26,282 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on KNSL. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Morgan Stanley cut their target price on Kinsale Capital Group from $525.00 to $500.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Truist Financial lifted their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Compass Point lifted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $506.89.

Kinsale Capital Group Trading Down 7.0%

NYSE:KNSL opened at $421.21 on Friday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. 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 business has a fifty day moving average price of $446.90 and a 200-day moving average price of $459.26. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 26.74%. The business had revenue of $405.06 million during the quarter, compared to the consensus estimate of $446.00 million. During the same quarter in the prior year, the firm earned $4.20 EPS. The business's revenue was up 19.0% on a year-over-year basis. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.55%.

About Kinsale Capital Group

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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