Janney Montgomery Scott LLC Sells 10,853 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Janney Montgomery Scott LLC reduced its shareholding in Kinsale Capital Group by 29.5%, selling 10,853 shares and now holding approximately 25,883 shares valued at about $12.5 million.
• Kinsale Capital Group exceeded analysts' expectations with a reported EPS of $4.78, up from $3.75 year-over-year, alongside a revenue increase of 22.2% year-over-year to $458.7 million.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 0.1% with a payout ratio of 3.55%.

Janney Montgomery Scott LLC reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,883 shares of the financial services provider's stock after selling 10,853 shares during the quarter. Janney Montgomery Scott LLC owned about 0.11% of Kinsale Capital Group worth $12,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KNSL. Key Financial Inc grew its position in shares of Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $31,000. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at about $31,000. NBC Securities Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $35,000. Finally, von Borstel & Associates Inc. bought a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $42,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Up 5.3%

KNSL opened at $465.89 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The stock's fifty day simple moving average is $442.80 and its 200 day simple moving average is $460.72. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market cap of $10.86 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted 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. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The business had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the prior year, the business earned $3.75 EPS. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group's dividend payout ratio is 3.55%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial upped their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets boosted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Kinsale Capital Group in a research report on Saturday, September 27th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Bank of America started coverage on Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.

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