Kinsale Capital Group, Inc. $KNSL Stock: Kornitzer Capital Management Inc. KS Trims Holdings

Key Points

• Kornitzer Capital Management cut its Kinsale Capital Group holdings by 20.9% in the third quarter, selling 4,000 shares and retaining 15,130 shares valued at about $4.9 million.
• Kinsale reported quarterly earnings of $5.70 per share and revenue of $454.8 million, beating analyst estimates for both; its annualized dividend is $1.00 per share, a 0.3% yield.
• Analyst sentiment is cautious: the consensus rating is “Reduce,” with a $352.88 average price target. Shares opened at $383.32, above that target.

Kornitzer Capital Management Inc. KS lowered its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 20.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,130 shares of the financial services provider's stock after selling 4,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Kinsale Capital Group worth $4,883,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. MGO One Seven LLC increased its holdings in shares of Kinsale Capital Group by 2.7% in the third quarter. MGO One Seven LLC now owns 1,113 shares of the financial services provider's stock valued at $359,000 after purchasing an additional 29 shares during the last quarter. Inspire Investing LLC boosted its stake in Kinsale Capital Group by 2.7% during the third quarter. Inspire Investing LLC now owns 1,315 shares of the financial services provider's stock worth $424,000 after buying an additional 35 shares during the last quarter. Signaturefd LLC boosted 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 buying an additional 39 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Kinsale Capital Group by 4.6% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 950 shares of the financial services provider's stock valued at $307,000 after buying an additional 42 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Kinsale Capital Group by 3.6% in the 1st quarter. Sanctuary Advisors LLC now owns 1,361 shares of the financial services provider's stock valued at $465,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 0.1%

Shares of NYSE:KNSL opened at $383.32 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $8.63 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.16 and a beta of 0.81. The firm's 50-day moving average is $358.59 and its two-hundred day moving average is $352.00. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $421.90.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $5.70 earnings per share for the quarter, topping analysts' consensus estimates of $5.11 by $0.59. Kinsale Capital Group had a return on equity of 25.73% and a net margin of 26.89%. The business had revenue of $454.80 million for the quarter, compared to analyst estimates of $401.43 million. During the same quarter in the prior year, the company earned $5.21 earnings per share. Analysts predict that Kinsale Capital Group, Inc. will post 21.98 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently commented on KNSL. Citigroup reiterated a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, October 23rd. BMO Capital Markets reissued an "underperform" rating on shares of Kinsale Capital Group in a research report on Thursday, October 29th. Morgan Stanley dropped their price objective 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. Royal Bank Of Canada raised their price objective on shares of Kinsale Capital Group from $375.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Monday, October 26th. Finally, Weiss Ratings upgraded shares of Kinsale Capital Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $352.88.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc is a specialty insurance company focused on the excess and surplus lines market. Through its insurance subsidiaries, the company provides coverage for commercial risks that may be difficult to place in the standard insurance market.

Its products include commercial property and casualty insurance, along with specialty coverages such as professional liability, excess liability, inland marine, and environmental insurance. Kinsale serves businesses and insurance brokers across the United States.

Founded in 2009 and headquartered in Richmond, Virginia, Kinsale was established by Michael P.

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