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

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Kinsale Capital Group by 17.9%, owning 4,208 shares after selling 919 shares during the second quarter, with a total value of approximately $2,036,000.
• Kinsale Capital Group recently reported earnings of $4.78 EPS for the quarter, surpassing analysts' expectations by $0.37, alongside revenue growth of 22.2% year-over-year.
• Analysts have varying opinions, with Compass Point and Truist Financial raising their price targets significantly, indicating a general consensus rating of "Hold" with a target price around $505.80.

Harbor Capital Advisors Inc. trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,208 shares of the financial services provider's stock after selling 919 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Kinsale Capital Group were worth $2,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Gallacher Capital Management LLC increased its stake in shares of Kinsale Capital Group by 59.4% during 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 during the period. Peak Financial Advisors LLC purchased a new stake in Kinsale Capital Group during the second quarter worth about $491,000. Centurion Wealth Management LLC boosted its holdings in Kinsale Capital Group by 8.5% during the second quarter. Centurion Wealth Management LLC now owns 550 shares of the financial services provider's stock worth $266,000 after buying an additional 43 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in Kinsale Capital Group by 79.8% during the second quarter. Harbor Investment Advisory LLC now owns 338 shares of the financial services provider's stock worth $164,000 after buying an additional 150 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Kinsale Capital Group by 18.7% during the first quarter. Swedbank AB now owns 57,050 shares of the financial services provider's stock worth $27,767,000 after buying an additional 8,985 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Up 0.2%

Shares of Kinsale Capital Group stock traded up $0.84 during trading hours on Friday, hitting $428.16. The company's stock had a trading volume of 324,845 shares, compared to its average volume of 184,978. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The business has a fifty day moving average of $453.40 and a 200 day moving average of $462.24. The company has a market capitalization of $9.98 billion, a PE ratio of 22.33, a P/E/G ratio of 1.58 and a beta of 1.13. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The business had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business's revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $3.75 EPS. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a $0.17 dividend. 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 payout ratio is presently 3.55%.

Analyst Ratings Changes

KNSL has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Truist Financial upped their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a report on Monday, July 28th. Bank of America began coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $505.80.

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.