Kinsale Capital Group, Inc. $KNSL Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its holdings in Kinsale Capital Group by 19.9% during the first quarter, now owning 3,181 shares valued at approximately $1.55 million.
• Analysts have given Kinsale Capital Group a consensus rating of "Hold" with a consensus price target of $505.80, highlighting it has received several "buy" and "hold" ratings from different firms.
• The company reported a strong earnings performance with $4.78 EPS in the last quarter, exceeding analyst expectations and reflecting a year-over-year revenue increase of 22.2%.

Quantbot Technologies LP lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,181 shares of the financial services provider's stock after selling 790 shares during the quarter. Quantbot Technologies LP's holdings in Kinsale Capital Group were worth $1,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its position in Kinsale Capital Group by 1.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,469 shares of the financial services provider's stock valued at $683,000 after buying an additional 25 shares during the period. Private Trust Co. NA grew its position in Kinsale Capital Group by 2.1% during the first quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock valued at $627,000 after buying an additional 27 shares during the period. Strategic Advisors LLC grew its position in Kinsale Capital Group by 0.6% during the first quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock valued at $2,568,000 after buying an additional 30 shares during the period. Xponance Inc. grew its position in Kinsale Capital Group by 0.7% during the first quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock valued at $2,188,000 after buying an additional 30 shares during the period. Finally, Foster Dykema Cabot & Partners LLC grew its position in Kinsale Capital Group by 2.6% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 1,190 shares of the financial services provider's stock valued at $579,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 29th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price target on the stock. Morgan Stanley raised their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Truist Financial raised their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $505.80.

Insider Activity

In other news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.50% of the company's stock.

Kinsale Capital Group Trading Up 0.3%

KNSL stock traded up $1.57 during trading on Thursday, reaching $456.65. 24,336 shares of the stock were exchanged, compared to its average volume of 205,937. 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 business has a 50 day moving average price of $465.38 and a 200-day moving average price of $462.39. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 1.66 and a beta of 1.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The company had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. Kinsale Capital Group's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.75 earnings per share. On average, research analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, August 29th. Kinsale Capital Group's payout ratio is 3.55%.

Kinsale Capital Group Company 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.