Intech Investment Management LLC Cuts Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Intech Investment Management LLC cut its stake in Kinsale Capital Group by 41.7% in the fourth quarter, selling 7,571 shares and leaving it with 10,603 shares valued at about $4.15 million.
• Kinsale’s latest earnings came in above expectations, with quarterly EPS of $5.11 versus the $4.70 estimate and revenue of $466.71 million, even though revenue was slightly lower year over year.
• Insider selling and analyst sentiment were also notable: CEO Michael P. Kehoe and insider Salmaan K. Allibhai both sold shares, while Wall Street currently rates the stock a consensus Hold with an average price target of $390.18.

Intech Investment Management LLC lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 41.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,603 shares of the financial services provider's stock after selling 7,571 shares during the quarter. Intech Investment Management LLC's holdings in Kinsale Capital Group were worth $4,147,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $25,000. eCIO Inc. purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. International Assets Investment Management LLC purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. Johnson Financial Group Inc. boosted its stake in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after buying an additional 54 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Kinsale Capital Group by 225.0% during the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after buying an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm's 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 sale, the insider directly owned 3,645 shares of the company's stock, valued at $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. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Price Performance

NYSE:KNSL opened at $303.31 on Tuesday. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.99 and a beta of 0.95. Kinsale Capital Group, Inc. has a 1 year low of $293.78 and a 1 year high of $512.76. The business has a 50 day simple moving average of $329.41 and a 200-day simple moving average of $365.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data 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 business 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 last year, the company earned $3.71 EPS. Equities analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.40%.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of research reports. Weiss Ratings lowered Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. BMO Capital Markets lowered Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price target for the company. in a research note on Wednesday, February 25th. Truist Financial dropped their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Wells Fargo & Company lowered Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $420.00 to $357.00 in a research note on Monday, April 27th. Finally, Morgan Stanley dropped their price target on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $390.18.

Kinsale Capital Group 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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