First Trust Advisors LP Has $1.45 Million Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• First Trust Advisors LP reduced its Kinsale Capital Group stake by 59.1% in the first quarter, selling 6,131 shares and retaining 4,238 shares valued at approximately $1.45 million. Institutional investors and hedge funds collectively own 85.36% of Kinsale’s stock.
• Analyst sentiment is cautious: one analyst rates Kinsale a Buy, six rate it Hold and three rate it Sell. The consensus rating is “Reduce,” with an average price target of $362.11, below the reported share price of $373.12.
• Kinsale exceeded quarterly expectations, reporting $5.54 in EPS versus a $5.11 consensus estimate and $548.52 million in revenue, up 16.8% year over year. The company posted a 25.54% return on equity and a 28.49% net margin.

First Trust Advisors LP cut its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 59.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,238 shares of the financial services provider's stock after selling 6,131 shares during the quarter. First Trust Advisors LP's holdings in Kinsale Capital Group were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd acquired a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $229,653,000. Capital World Investors boosted its position in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock worth $386,366,000 after buying an additional 533,499 shares during the period. Norges Bank bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $107,916,000. First Manhattan CO. LLC. grew its holdings in Kinsale Capital Group by 19.6% during the 4th quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock worth $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Finally, M&T Bank Corp increased its position in Kinsale Capital Group by 2,621.6% in the 4th quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider's stock valued at $35,638,000 after acquiring an additional 87,770 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kinsale Capital Group

In other news, CAO Christopher R. Tangard acquired 330 shares of Kinsale Capital Group stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer owned 380 shares of the company's stock, valued at approximately $115,520. This trade represents a 660.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company's stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial cut their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Weiss Ratings downgraded Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, June 26th. Morgan Stanley lowered their target price on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research report on Thursday, May 21st. Royal Bank Of Canada cut their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a report on Monday, April 27th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $362.11.

Kinsale Capital Group Stock Down 0.2%

Shares of NYSE KNSL opened at $373.12 on Monday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The company has a 50-day moving average price of $332.13 and a 200-day moving average price of $346.85.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The firm had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same period in the prior year, the business posted $4.78 earnings per share. The company's quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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