Howland Capital Management LLC Sells 6,613 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Howland Capital Management LLC cut its stake in Kinsale Capital Group by 8.4% in the fourth quarter, selling 6,613 shares and leaving it with 71,656 shares valued at about $28.0 million.
• Analyst sentiment has turned cautious, with several firms lowering price targets and ratings; the stock now carries an average “Hold” rating and an average target price of $390.18.
• Kinsale reported stronger-than-expected quarterly results, posting $5.11 EPS on $466.71 million in revenue, while the company also paid a quarterly dividend of $0.25 per share.

Howland Capital Management LLC reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,656 shares of the financial services provider's stock after selling 6,613 shares during the quarter. Kinsale Capital Group comprises 1.1% of Howland Capital Management LLC's holdings, making the stock its 29th largest holding. Howland Capital Management LLC owned 0.31% of Kinsale Capital Group worth $28,026,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its holdings in Kinsale Capital Group by 53.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,181 shares of the financial services provider's stock worth $462,000 after purchasing an additional 412 shares in the last quarter. Rossby Financial LCC bought a new stake in Kinsale Capital Group in the fourth quarter worth approximately $383,000. Federation des caisses Desjardins du Quebec increased its position in Kinsale Capital Group by 12.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,807 shares of the financial services provider's stock valued at $707,000 after buying an additional 205 shares in the last quarter. HRT Financial LP bought a new stake in Kinsale Capital Group in the 4th quarter valued at about $1,254,000. Finally, Dimensional Fund Advisors LP increased its position in Kinsale Capital Group by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 285,654 shares of the financial services provider's stock valued at $111,732,000 after buying an additional 11,930 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on KNSL. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Jefferies Financial Group lowered Kinsale Capital Group from a "hold" rating to an "underperform" rating and decreased their target price for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Wall Street Zen lowered Kinsale Capital Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Morgan Stanley decreased 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. Finally, JPMorgan Chase & Co. decreased their target price on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $390.18.

Kinsale Capital Group Trading Up 0.2%

NYSE:KNSL opened at $311.29 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a 50-day moving average of $323.98 and a 200-day moving average of $360.73. The company has a market cap of $7.18 billion, a PE ratio of 13.70, a PEG ratio of 1.01 and a beta of 0.91. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76.

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

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.40%.

Insider Transactions at Kinsale Capital Group

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

About Kinsale Capital Group

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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