Kinsale Capital Group, Inc. $KNSL Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has reduced its stake in Kinsale Capital Group by 20.1%, resulting in ownership of 10,643 shares valued at approximately $5.18 million.
• Kinsale Capital Group reported a quarterly earnings per share (EPS) of $4.78, exceeding analysts' expectations of $4.41, with a revenue increase of 22.2% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, reflecting a 0.2% yield and a payout ratio of 3.55%.

Intech Investment Management LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,643 shares of the financial services provider's stock after selling 2,682 shares during the period. Intech Investment Management LLC's holdings in Kinsale Capital Group were worth $5,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in shares of Kinsale Capital Group by 13.4% in the fourth quarter. Cetera Investment Advisers now owns 8,036 shares of the financial services provider's stock worth $3,738,000 after purchasing an additional 947 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in Kinsale Capital Group by 46.6% in the fourth quarter. Gotham Asset Management LLC now owns 2,144 shares of the financial services provider's stock worth $997,000 after acquiring an additional 682 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Kinsale Capital Group by 1.2% in the 4th quarter. Nuveen Asset Management LLC now owns 103,497 shares of the financial services provider's stock valued at $48,140,000 after acquiring an additional 1,265 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $1,366,000. Finally, Quantinno Capital Management LP increased its stake in Kinsale Capital Group by 44.9% in the 4th quarter. Quantinno Capital Management LP now owns 1,366 shares of the financial services provider's stock worth $635,000 after buying an additional 423 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on KNSL. Bank of America assumed 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. Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. BMO Capital Markets upped their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Truist Financial upped their price target on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a report on Monday, July 28th. 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 data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $505.80.

Kinsale Capital Group Stock Up 1.1%

Shares of Kinsale Capital Group stock traded up $4.55 during trading hours on Tuesday, reaching $428.79. 171,770 shares of the company were exchanged, compared to its average volume of 205,088. The stock's fifty day moving average is $456.85 and its 200 day moving average is $462.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $9.99 billion, a PE ratio of 22.37, a PEG ratio of 1.59 and a beta of 1.13. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year 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 EPS for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. The business's revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.75 earnings per share. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group's payout ratio is 3.55%.

About Kinsale Capital Group

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.