Kinsale Capital Group, Inc. $KNSL Shares Sold by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management cut its Kinsale Capital Group stake by 2.8% in the fourth quarter, though it still held 213,899 shares worth about $83.7 million.
• Insider selling continued, with CEO Michael P. Kehoe and insider Salmaan K. Allibhai both selling shares in recent transactions.
• Kinsale reported better-than-expected quarterly results, posting $5.11 EPS and $466.71 million in revenue, while analysts currently rate the stock a consensus Hold with an average price target of $390.18.

Royal London Asset Management Ltd. reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,899 shares of the financial services provider's stock after selling 6,066 shares during the period. Royal London Asset Management Ltd. owned about 0.92% of Kinsale Capital Group worth $83,660,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Langdon Equity Partners purchased a new position in Kinsale Capital Group during the fourth quarter worth $29,585,000. Quadrant Capital Group LLC grew its position in Kinsale Capital Group by 53.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,181 shares of the financial services provider's stock valued at $462,000 after acquiring an additional 412 shares during the period. Rossby Financial LCC purchased a new stake in Kinsale Capital Group during the fourth quarter valued at about $383,000. Federation des caisses Desjardins du Quebec grew its position in Kinsale Capital Group by 12.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,807 shares of the financial services provider's stock valued at $707,000 after acquiring an additional 205 shares during the period. Finally, HRT Financial LP purchased a new stake in Kinsale Capital Group during the fourth quarter valued at about $1,254,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company's stock.

Kinsale Capital Group Trading Up 0.2%

Shares of KNSL opened at $311.29 on Friday. The stock's 50-day moving average is $323.98 and its two-hundred day moving average is $360.73. The stock has a market cap of $7.18 billion, a PE ratio of 13.70, a P/E/G ratio of 1.01 and a beta of 0.91. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.71 earnings per share. Equities analysts forecast that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is 4.40%.

Analysts Set New Price Targets

KNSL has been the subject of a number of research reports. Morgan Stanley lowered their price target on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research report on Thursday, May 21st. Truist Financial lowered their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research report on Monday, April 27th. Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings cut Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $390.18.

Kinsale Capital Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.