Intech Investment Management LLC Sells 2,682 Shares of Kinsale Capital Group, Inc. $KNSL

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 lessened its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 20.1% during the 1st quarter, according to 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 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Focus Partners Wealth increased its stake in Kinsale Capital Group by 52.3% in the 1st quarter. Focus Partners Wealth now owns 18,324 shares of the financial services provider's stock worth $8,918,000 after buying an additional 6,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kinsale Capital Group by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,134 shares of the financial services provider's stock worth $36,082,000 after buying an additional 1,894 shares during the period. Vancity Investment Management Ltd purchased a new position in Kinsale Capital Group in the 1st quarter worth about $1,007,000. Ascent Group LLC increased its stake in Kinsale Capital Group by 29.0% in the 1st quarter. Ascent Group LLC now owns 10,470 shares of the financial services provider's stock worth $5,096,000 after buying an additional 2,352 shares during the period. Finally, Coppell Advisory Solutions LLC increased its stake in Kinsale Capital Group by 78,761.8% in the 1st quarter. Coppell Advisory Solutions LLC now owns 26,813 shares of the financial services provider's stock worth $13,050,000 after buying an additional 26,779 shares during the period. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on KNSL. JPMorgan Chase & Co. raised their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research report on Wednesday, August 13th. BMO Capital Markets raised their target price 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. Bank of America assumed coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 target price on the stock. Finally, Compass Point raised their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Kinsale Capital Group has a consensus rating of "Hold" and an average target price of $505.80.

Kinsale Capital Group Stock Up 1.0%

Shares of NYSE:KNSL traded up $4.26 during trading on Thursday, reaching $434.92. The stock had a trading volume of 95,443 shares, compared to its average volume of 204,870. Kinsale Capital Group, Inc. has a one year low of $405.00 and a one year high of $531.79. The company has a market capitalization of $10.13 billion, a P/E ratio of 22.69, a PEG ratio of 1.57 and a beta of 1.13. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm's 50-day simple moving average is $455.71 and its 200 day simple moving average is $462.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share 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 for the quarter, compared to analysts' expectations of $436.25 million. During the same period last year, the business earned $3.75 EPS. The company's revenue was up 22.2% compared to the same quarter last year. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal 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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, August 29th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Kinsale Capital Group 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.