Kinsale Capital Group, Inc. (NYSE:KNSL) Stock Position Lowered by Entropy Technologies LP

Key Points

• Entropy Technologies LP decreased its holdings in Kinsale Capital Group by 31.0% during Q1, owning 2,100 shares worth over $1 million after selling 944 shares.
• Multiple institutional investors increased their stakes in Kinsale Capital Group, with DAVENPORT & Co LLC boosting its holdings by 6.2% and JPMorgan Chase & Co. increasing theirs by 39.8% in the same quarter.
• Kinsale Capital Group reported a quarterly earnings per share (EPS) of $4.78, surpassing analysts' estimates and showing a year-over-year revenue increase of 22.2%.

Entropy Technologies LP trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 31.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100 shares of the financial services provider's stock after selling 944 shares during the quarter. Entropy Technologies LP's holdings in Kinsale Capital Group were worth $1,022,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Kinsale Capital Group during the fourth quarter worth about $18,323,000. Treasurer of the State of North Carolina grew its holdings in Kinsale Capital Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 9,680 shares of the financial services provider's stock worth $4,502,000 after acquiring an additional 55 shares during the period. Townsquare Capital LLC grew its holdings in Kinsale Capital Group by 23.1% in the fourth quarter. Townsquare Capital LLC now owns 7,776 shares of the financial services provider's stock valued at $3,617,000 after purchasing an additional 1,459 shares during the period. Barclays PLC grew its holdings in Kinsale Capital Group by 58.2% in the fourth quarter. Barclays PLC now owns 18,629 shares of the financial services provider's stock valued at $8,666,000 after purchasing an additional 6,857 shares during the period. Finally, Mariner LLC grew its holdings in Kinsale Capital Group by 3.6% in the fourth quarter. Mariner LLC now owns 3,143 shares of the financial services provider's stock valued at $1,462,000 after purchasing an additional 110 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

NYSE:KNSL traded up $1.97 during trading hours on Thursday, hitting $453.98. The company's stock had a trading volume of 229,031 shares, compared to its average volume of 207,445. The business's 50-day moving average is $467.69 and its two-hundred day moving average is $462.77. The company has a market capitalization of $10.58 billion, a PE ratio of 23.68, a PEG ratio of 1.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. 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 posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The business 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 revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.75 earnings per share. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Analyst Ratings Changes

KNSL has been the topic of a number of research analyst reports. Bank of America initiated coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research note on Wednesday. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Truist Financial raised their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Compass Point raised their target price on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of "Hold" and a consensus price target of $505.80.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares in the company, valued at $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

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.