Geode Capital Management LLC Has $239.13 Million Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Geode Capital Management trimmed its Kinsale Capital Group stake by 1.4% in the fourth quarter, but still held 607,419 shares worth about $239.13 million. Institutional investors continue to own a large majority of the stock, at 85.36%.
• Kinsale reported strong quarterly earnings, with EPS of $5.11 beating estimates by $0.41 and revenue of $466.71 million topping forecasts. However, the stock was trading near its 52-week low and had fallen below key moving averages.
• Analysts have turned more cautious: several firms cut price targets, and the consensus rating is now Hold with an average target of $390.18. The company also announced a quarterly dividend of $0.25 per share, yielding about 0.3%.

Geode Capital Management LLC trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607,419 shares of the financial services provider's stock after selling 8,680 shares during the quarter. Geode Capital Management LLC owned approximately 2.61% of Kinsale Capital Group worth $239,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vident Advisory LLC lifted its holdings in shares of Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock valued at $399,000 after buying an additional 23 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider's stock valued at $339,000 after buying an additional 28 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock valued at $77,000 after buying an additional 28 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Kinsale Capital Group by 39.0% during the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider's stock valued at $42,000 after buying an additional 30 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Kinsale Capital Group by 5.3% during the 4th quarter. CWM LLC now owns 592 shares of the financial services provider's stock valued at $232,000 after buying an additional 30 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Down 2.8%

KNSL opened at $295.11 on Wednesday. The business has a 50 day moving average price of $329.41 and a 200 day moving average price of $365.89. Kinsale Capital Group, Inc. has a twelve month low of $293.78 and a twelve month high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $6.81 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $3.71 EPS. Research analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group's payout ratio is currently 4.40%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KNSL. Truist Financial reduced their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. BMO Capital Markets lowered Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 target price for the company. in a report on Wednesday, February 25th. Morgan Stanley reduced their target price on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a report on Thursday, May 21st. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $390.18.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company's stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company's stock.

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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