Kinsale Capital Group, Inc. $KNSL Shares Sold by Madison Asset Management LLC

Key Points

• Madison Asset Management cut its Kinsale Capital Group stake by 12% in the fourth quarter, selling 18,762 shares and leaving it with 137,362 shares valued at about $53.7 million.
• Kinsale CEO Michael P. Kehoe sold 22,576 shares on May 5 for about $6.83 million, a transaction that reduced his ownership by 6.83%.
• The company beat quarterly earnings expectations, reporting $5.11 EPS versus $4.70 expected and revenue of $466.71 million; it also declared a quarterly dividend of $0.25 per share.

Madison Asset Management LLC trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,362 shares of the financial services provider's stock after selling 18,762 shares during the period. Madison Asset Management LLC owned 0.59% of Kinsale Capital Group worth $53,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KNSL. Vident Advisory LLC increased its stake in Kinsale Capital Group by 2.9% during the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock worth $399,000 after buying an additional 23 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider's stock worth $339,000 after buying an additional 28 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Kinsale Capital Group by 20.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock worth $77,000 after acquiring an additional 28 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Kinsale Capital Group by 39.0% in the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Kinsale Capital Group by 5.3% in the 4th quarter. CWM LLC now owns 592 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KNSL. Royal Bank Of Canada reduced their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. BMO Capital Markets lowered shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price target for the company. in a report on Wednesday, February 25th. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Finally, Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $392.00.

Kinsale Capital Group Stock Performance

KNSL stock opened at $303.23 on Wednesday. Kinsale Capital Group, Inc. has a 1 year low of $293.78 and a 1 year high of $512.76. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.97 and a beta of 0.95. 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 stock's fifty day moving average is $345.12 and its two-hundred day moving average is $375.28.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.71 earnings per share. On average, research analysts predict that Kinsale Capital Group, Inc. will post 20.58 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.40%.

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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