Kinsale Capital Group, Inc. $KNSL Stock Position Lessened by Comerica Bank

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 lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 45.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,526 shares of the financial services provider's stock after selling 18,449 shares during the quarter. Comerica Bank owned approximately 0.10% of Kinsale Capital Group worth $10,964,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Kinsale Capital Group by 10.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after buying an additional 254 shares during the last quarter. Bridges Investment Management Inc. increased its holdings in shares of Kinsale Capital Group by 111.5% during the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock worth $2,446,000 after buying an additional 2,650 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Kinsale Capital Group by 43.4% during the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after acquiring an additional 1,111 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kinsale Capital Group by 43.9% during the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after acquiring an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Kinsale Capital Group during the 1st quarter valued at $270,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity

In other news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction 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 transaction, the executive vice president 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 document filed with the SEC, which can be accessed through this link. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 price target for the company. Compass Point upped their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, 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 report on Tuesday, July 29th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Kinsale Capital Group presently has a consensus rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Stock Performance

KNSL stock traded up $2.93 during mid-day trading on Monday, reaching $458.42. The company had a trading volume of 172,866 shares, compared to its average volume of 183,303. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $10.68 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.68 and a beta of 1.13. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79. The stock's 50-day simple moving average is $464.49 and its two-hundred day simple moving average is $461.83.

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, beating analysts' consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business posted $3.75 earnings per share. Research analysts anticipate 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 will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a $0.17 dividend. 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.