Kinsale Capital Group, Inc. $KNSL Stock: Howland Capital Management LLC Lowers Holdings

Key Points

• Howland Capital Management cut its Kinsale Capital Group stake by 45.3% in the third quarter, selling 26,653 shares and retaining 32,223 shares valued at approximately $10.4 million. Institutional investors collectively own 85.36% of the company.
• Analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $357.67; several firms recently lowered their targets while maintaining neutral or equal-weight ratings.
• Kinsale reported stronger-than-expected quarterly results, posting $5.70 EPS versus the $5.11 estimate and revenue of $454.8 million versus the $401.43 million consensus. The company also declared a quarterly dividend of $0.25, representing a 0.3% annualized yield.

Howland Capital Management LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 45.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 32,223 shares of the financial services provider's stock after selling 26,653 shares during the period. Howland Capital Management LLC owned 0.14% of Kinsale Capital Group worth $10,400,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bamco Inc. NY bought a new stake in Kinsale Capital Group during the 2nd quarter worth $878,600,000. BlackRock Inc. bought a new position in Kinsale Capital Group in the second quarter valued at about $671,457,000. Bank of America Corp DE bought a new position in Kinsale Capital Group in the second quarter valued at about $69,470,000. Bank of New York Mellon Corp bought a new position in Kinsale Capital Group in the second quarter valued at about $45,595,000. Finally, Turtle Creek Asset Management Inc. boosted its stake in shares of Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider's stock valued at $140,506,000 after purchasing an additional 132,576 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KNSL. Cantor Fitzgerald boosted their price target on Kinsale Capital Group from $259.00 to $264.00 and gave the stock a "neutral" rating in a report on Wednesday, October 7th. Weiss Ratings upgraded shares of Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $390.00 to $375.00 and set a "neutral" rating for the company in a report on Friday, October 9th. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $390.00 to $350.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 6th. Finally, Wells Fargo & Company reduced their target price on shares of Kinsale Capital Group from $377.00 to $348.00 and set an "equal weight" rating on the stock in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of "Reduce" and a consensus price target of $357.67.

Kinsale Capital Group Trading Up 3.8%

NYSE:KNSL opened at $390.85 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a 50-day moving average of $360.05 and a 200-day moving average of $342.13. The company has a market cap of $8.90 billion, a PE ratio of 17.38, a PEG ratio of 1.19 and a beta of 0.88. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $462.82.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $5.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.59. The business had revenue of $454.80 million during the quarter, compared to the consensus estimate of $401.43 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%. During the same quarter in the prior year, the company posted $5.21 earnings per share. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 21.17 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Friday, August 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 28th. Kinsale Capital Group's payout ratio is 4.05%.

About Kinsale Capital Group

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.

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.