Kinsale Capital Group, Inc. $KNSL Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Kinsale by 86.5% in Q4, selling 46,102 shares and leaving 7,196 shares worth $2.814 million on its most recent 13F filing.
• Kinsale beat expectations in the latest quarter with $5.11 EPS vs. $4.70 expected and $466.71M revenue, and the company raised its quarterly dividend from $0.17 to $0.25 (annualized $1.00, payout ratio 4.4%).
• Shares are trading around $304 (down ~2.4%), while Wall Street’s consensus is a "Hold" with a $392 target and a mixed analyst split (2 Buy, 8 Hold, 2 Sell); market cap is about $7.02 billion.

Comerica Bank reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 86.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,196 shares of the financial services provider's stock after selling 46,102 shares during the period. Comerica Bank's holdings in Kinsale Capital Group were worth $2,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. Johnson Financial Group Inc. raised its position 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 worth $32,000 after acquiring an additional 54 shares during the period. Root Financial Partners LLC acquired a new position in Kinsale Capital Group during the third quarter worth $33,000. Finally, Larson Financial Group LLC raised its position 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 worth $33,000 after acquiring an additional 54 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 2.4%

Shares of KNSL opened at $304.36 on Tuesday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12-month low of $303.08 and a 12-month high of $512.76. The firm has a 50-day moving average price of $354.05 and a 200 day moving average price of $381.43. The firm has a market capitalization of $7.02 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.01 and a beta of 0.95.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the firm posted $3.71 earnings per share. Kinsale Capital Group's quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were issued a $0.25 dividend. This is an increase from Kinsale Capital Group's previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, February 26th. Kinsale Capital Group's payout ratio is currently 4.40%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KNSL. Morgan Stanley restated an "equal weight" rating and set a $350.00 price objective (down from $450.00) on shares of Kinsale Capital Group in a research report on Monday, April 6th. Wells Fargo & Company cut shares of Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Weiss Ratings cut shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $392.00.

Kinsale Capital Group Company 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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