Kinsale Capital Group, Inc. $KNSL Position Reduced by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC reduced its stake in Kinsale Capital Group by 1.5%, now holding 535,006 shares, which account for approximately 1.4% of their total portfolio.
• Analysts have adjusted their ratings on Kinsale Capital Group, with five giving it a Buy rating and seven a Hold rating, while the average price target is set at $505.80.
• Kinsale Capital Group reported $4.78 earnings per share (EPS) in their most recent quarter, surpassing expectations and showing year-over-year revenue growth of 22.2%.

DAVENPORT & Co LLC decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 535,006 shares of the financial services provider's stock after selling 8,343 shares during the period. Kinsale Capital Group accounts for about 1.4% of DAVENPORT & Co LLC's holdings, making the stock its 8th biggest position. DAVENPORT & Co LLC owned 2.30% of Kinsale Capital Group worth $258,889,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its stake in Kinsale Capital Group by 2.6% in the 2nd quarter. QRG Capital Management Inc. now owns 1,190 shares of the financial services provider's stock valued at $576,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC grew its position in shares of Kinsale Capital Group by 22.0% in the second quarter. Ascent Group LLC now owns 12,773 shares of the financial services provider's stock valued at $6,181,000 after purchasing an additional 2,303 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Kinsale Capital Group during the 2nd quarter valued at $218,000. Abacus Planning Group Inc. purchased a new stake in Kinsale Capital Group during the 2nd quarter worth about $389,000. Finally, J2 Capital Management Inc boosted its stake in Kinsale Capital Group by 44.2% in the 2nd quarter. J2 Capital Management Inc now owns 1,412 shares of the financial services provider's stock worth $683,000 after purchasing an additional 433 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several analyst reports. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Compass Point upped their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets boosted their price target on shares of 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. Finally, JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $465.89 on Monday. The company's fifty day moving average price is $442.80 and its 200-day moving average price is $460.79. 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 market capitalization of $10.86 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 1.71 and a beta of 1.09. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm's revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.75 EPS. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

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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