Kinsale Capital Group, Inc. $KNSL Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. significantly reduced its holdings in Kinsale Capital Group by 87.6%, bringing its share count down to 2,374 after selling 16,772 shares in the first quarter.
• Kinsale Capital Group's latest quarterly earnings showed an EPS of $4.78, exceeding estimates, with a revenue increase of 22.2% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, with an annual yield of 0.2%, scheduled for payment on September 11th.

1832 Asset Management L.P. decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 87.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374 shares of the financial services provider's stock after selling 16,772 shares during the period. 1832 Asset Management L.P.'s holdings in Kinsale Capital Group were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CW Advisors LLC lifted its position in shares of Kinsale Capital Group by 9.5% during the 1st quarter. CW Advisors LLC now owns 10,476 shares of the financial services provider's stock valued at $5,099,000 after buying an additional 911 shares in the last quarter. Erste Asset Management GmbH raised its stake in Kinsale Capital Group by 1.6% in the 1st quarter. Erste Asset Management GmbH now owns 45,727 shares of the financial services provider's stock valued at $22,229,000 after purchasing an additional 733 shares during the last quarter. Giverny Capital Inc. raised its stake in Kinsale Capital Group by 87.3% in the 1st quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider's stock valued at $82,725,000 after purchasing an additional 79,208 shares during the last quarter. Northern Trust Corp raised its stake in Kinsale Capital Group by 3.0% in the 1st quarter. Northern Trust Corp now owns 223,116 shares of the financial services provider's stock valued at $108,593,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Kinsale Capital Group by 13.1% in the 1st quarter. Cresset Asset Management LLC now owns 2,310 shares of the financial services provider's stock valued at $1,124,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Trading Up 0.6%

Shares of KNSL traded up $2.93 during midday trading on Friday, reaching $458.42. The company had a trading volume of 172,866 shares, compared to its average volume of 183,303. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The stock has a market cap of $10.68 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13. The firm has a 50 day simple moving average of $464.91 and a 200-day simple moving average of $461.77. 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 issued its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $436.25 million. During the same period last year, the company earned $3.75 EPS. The company's revenue for the quarter was up 22.2% on a year-over-year basis. Research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KNSL shares. Compass Point increased their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America started coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective for the company. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. BMO Capital Markets increased their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley increased their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $505.80.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

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.