Envestnet Portfolio Solutions Inc. Has $808,000 Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,661 shares of the financial services provider's stock after selling 1,589 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Kinsale Capital Group were worth $808,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC grew its holdings in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares in the last quarter. California Public Employees Retirement System boosted its position in Kinsale Capital Group by 11.8% during the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock worth $18,299,000 after acquiring an additional 4,146 shares during the period. Merit Financial Group LLC purchased a new position in Kinsale Capital Group during the 1st quarter valued at about $441,000. Portside Wealth Group LLC increased its holdings in shares of Kinsale Capital Group by 206.3% in the 1st quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider's stock valued at $893,000 after purchasing an additional 1,236 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Kinsale Capital Group by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 36,736 shares of the financial services provider's stock worth $17,880,000 after purchasing an additional 1,374 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Down 2.5%

KNSL stock opened at $466.18 on Thursday. The firm has a market cap of $10.87 billion, a PE ratio of 26.82, a PEG ratio of 1.78 and a beta of 1.20. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79. The company has a fifty day simple moving average of $463.90 and a 200 day simple moving average of $460.27. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The company had revenue of $423.40 million during the quarter, compared to analysts' expectations of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.50 earnings per share. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.91%.

Insiders Place Their Bets

In related news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president now owns 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 legal filing with the SEC, which is available through this link. Company insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday. Truist Financial decreased their target price on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Morgan Stanley increased their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, 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 target price on the stock. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Kinsale Capital Group currently has an average rating of "Hold" and a consensus target price of $491.88.

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.

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