Comerica Bank Sells 18,449 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Comerica Bank has reduced its stake in Kinsale Capital Group by 45%, selling 18,449 shares and now owning about 0.10% of the company, valued at approximately $10.96 million.
• Kinsale Capital Group recently reported earnings of $4.78 per share, exceeding expectations, with a revenue of $458.70 million for the quarter, reflecting a 22.2% year-over-year increase.
• The company has announced a quarterly dividend of $0.17 per share, with an annualized yield of 0.2%, and has a relatively low dividend payout ratio of 3.55%.

Comerica Bank decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 45.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,526 shares of the financial services provider's stock after selling 18,449 shares during the quarter. Comerica Bank owned about 0.10% of Kinsale Capital Group worth $10,964,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Key Financial Inc grew its stake in shares of Kinsale Capital Group by 315.4% in the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock valued at $26,000 after buying an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at approximately $31,000. NBC Securities Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at approximately $35,000. von Borstel & Associates Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at approximately $42,000. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at approximately $54,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.7%

KNSL opened at $452.25 on Wednesday. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 1.65 and a beta of 1.12. The business has a 50 day moving average of $465.49 and a 200-day moving average of $462.43.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $436.25 million. During the same period in the prior year, the business 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. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio is 3.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley boosted their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Compass Point upped their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and an average target price of $505.80.

Insider Buying and Selling at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was 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 directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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