Kinsale Capital Group, Inc. $KNSL Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Kinsale Capital Group by 11.0% in the first quarter, holding 137,243 shares valued at approximately $66.8 million.
• Kinsale Capital Group reported a 22.2% year-over-year increase in revenue for the last quarter, achieving $458.70 million, alongside earnings per share of $4.78, which exceeded analyst expectations.
• The company's dividend yield is currently at 0.2%, with a quarterly dividend of $0.17 per share scheduled for payment on September 11th.

American Century Companies Inc. reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,243 shares of the financial services provider's stock after selling 16,925 shares during the quarter. American Century Companies Inc. owned about 0.59% of Kinsale Capital Group worth $66,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. DAVENPORT & Co LLC raised its position in shares of Kinsale Capital Group by 6.2% in the 1st quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider's stock worth $263,233,000 after buying an additional 31,480 shares during the period. JPMorgan Chase & Co. raised its position in Kinsale Capital Group by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after purchasing an additional 131,056 shares during the period. Geneva Capital Management LLC raised its position in Kinsale Capital Group by 0.6% in the first quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider's stock valued at $197,294,000 after purchasing an additional 2,449 shares during the period. GAMMA Investing LLC raised its position in Kinsale Capital Group by 59,220.7% in the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Kinsale Capital Group by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 225,186 shares of the financial services provider's stock valued at $109,589,000 after purchasing an additional 26,282 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNSL has been the topic of several research reports. BMO Capital Markets raised 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. Morgan Stanley raised their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Truist Financial raised their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus price target of $505.80.

Insider Buying and Selling

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

Kinsale Capital Group Stock Down 1.1%

Shares of Kinsale Capital Group stock traded down $4.8520 during trading hours on Friday, hitting $454.2080. 110,420 shares of the company's stock traded hands, compared to its average volume of 191,535. The stock has a 50 day simple moving average of $466.15 and a 200-day simple moving average of $462.77. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $10.58 billion, a PE ratio of 23.69, a PEG ratio of 1.67 and a beta of 1.12. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 25.93% and a net margin of 25.92%.The company's revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned $3.75 earnings per share. 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 declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) 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.