Kinsale Capital Group, Inc. $KNSL Shares Sold by Dover Advisors LLC

Key Points

• Dover Advisors LLC reduced its stake in Kinsale Capital Group by 46.1% during the 2nd quarter, now holding 1,383 shares valued at approximately $669,000.
• Institutional investors own 85.36% of Kinsale Capital Group, with significant increases in holdings from firms like Key Financial Inc and N.E.W. Advisory Services LLC.
• Kinsale Capital Group reported a quarterly EPS of $4.78, surpassing estimates, and announced a quarterly dividend of $0.17 per share, yielding 0.2% annually.

Dover Advisors LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 46.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,383 shares of the financial services provider's stock after selling 1,184 shares during the period. Dover Advisors LLC's holdings in Kinsale Capital Group were worth $669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gallacher Capital Management LLC boosted its holdings in Kinsale Capital Group by 59.4% in the second quarter. Gallacher Capital Management LLC now owns 1,036 shares of the financial services provider's stock worth $501,000 after acquiring an additional 386 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in Kinsale Capital Group in the second quarter worth $491,000. Centurion Wealth Management LLC boosted its holdings in Kinsale Capital Group by 8.5% in the second quarter. Centurion Wealth Management LLC now owns 550 shares of the financial services provider's stock worth $266,000 after acquiring an additional 43 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in Kinsale Capital Group by 79.8% in the second quarter. Harbor Investment Advisory LLC now owns 338 shares of the financial services provider's stock worth $164,000 after acquiring an additional 150 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Kinsale Capital Group by 18.7% during the first quarter. Swedbank AB now owns 57,050 shares of the financial services provider's stock valued at $27,767,000 after purchasing an additional 8,985 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial increased their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price objective on 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. Bank of America assumed coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Stock Down 0.4%

NYSE:KNSL traded down $1.80 during trading hours on Friday, hitting $425.52. The company's stock had a trading volume of 152,791 shares, compared to its average volume of 205,573. The stock has a market capitalization of $9.91 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.13. The stock has a fifty day moving average of $454.47 and a 200-day moving average of $462.11. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.75 earnings per share. On average, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 29th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. 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.