Kinsale Capital Group, Inc. $KNSL Shares Sold by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. cut its Kinsale Capital Group stake by 58% in the third quarter, selling 4,288 shares and retaining 3,101 shares valued at approximately $1.0 million. Institutional investors collectively own 85.36% of KNSL.
• Analyst sentiment is cautious: Kinsale has a consensus rating of “Reduce” from MarketBeat, with a $362.78 average price target. Several firms recently lowered their targets, while Cantor Fitzgerald raised its target to $285 and maintained a neutral rating.
• Kinsale reported stronger-than-expected quarterly results, with EPS of $5.70 versus the $5.11 consensus estimate and revenue of $454.80 million versus $401.43 million expected. The company also pays a quarterly dividend of $0.25 per share, yielding about 0.3% annually.

Oppenheimer & Co. Inc. trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 58.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the financial services provider's stock after selling 4,288 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Kinsale Capital Group were worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Kinsale Capital Group by 56.5% during the third quarter. Signaturefd LLC now owns 108 shares of the financial services provider's stock worth $35,000 after acquiring an additional 39 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Kinsale Capital Group by 296.7% in the third quarter. TD Waterhouse Canada Inc. now owns 119 shares of the financial services provider's stock worth $40,000 after acquiring an additional 89 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Kinsale Capital Group by 185.7% during the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider's stock worth $41,000 after buying an additional 78 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter worth $53,000. Finally, Western Wealth Management LLC purchased a new stake in Kinsale Capital Group during the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on Kinsale Capital Group from $264.00 to $285.00 and gave the company a "neutral" rating in a report on Monday, October 26th. Citigroup reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, October 23rd. Weiss Ratings upgraded Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Wells Fargo & Company cut their price objective on shares of Kinsale Capital Group from $377.00 to $348.00 and set an "equal weight" rating on the stock in a research report on Monday, October 12th. Finally, Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $390.00 to $350.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Kinsale Capital Group has a consensus rating of "Reduce" and a consensus target price of $362.78.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $380.22 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.10 and a beta of 0.88. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $421.90. The business has a 50 day simple moving average of $358.57 and a 200 day simple moving average of $352.23.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $5.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.59. Kinsale Capital Group had a net margin of 26.89% and a return on equity of 25.73%. The business had revenue of $454.80 million during the quarter, compared to the consensus estimate of $401.43 million. During the same period last year, the business posted $5.21 EPS. Analysts anticipate that Kinsale Capital Group, Inc. will post 21.80 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 28th. Kinsale Capital Group's payout ratio is 4.36%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc is a specialty insurance company headquartered in Richmond, Virginia. Through its insurance subsidiaries, the company focuses primarily on the excess and surplus lines market, providing coverage for risks that may be difficult to insure through standard commercial insurance channels.

Kinsale offers a range of commercial property and casualty products, including coverage for commercial property, general liability, professional liability, inland marine, commercial auto, workers' compensation and other specialty risks.

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