Bank of New York Mellon Corp Trims Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Bank of New York Mellon Corp cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,332 shares of the financial services provider's stock after selling 14,013 shares during the quarter. Bank of New York Mellon Corp owned about 0.73% of Kinsale Capital Group worth $82,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KNSL. von Borstel & Associates Inc. purchased a new position in shares of Kinsale Capital Group during the 1st quarter worth $42,000. OneDigital Investment Advisors LLC grew its holdings in shares of Kinsale Capital Group by 42.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 821 shares of the financial services provider's stock worth $400,000 after purchasing an additional 243 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of Kinsale Capital Group during the 1st quarter worth $270,000. First Horizon Advisors Inc. boosted its holdings in Kinsale Capital Group by 28.7% during the 1st quarter. First Horizon Advisors Inc. now owns 260 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 58 shares during the period. Finally, Novem Group boosted its holdings in Kinsale Capital Group by 32.5% during the 1st quarter. Novem Group now owns 2,216 shares of the financial services provider's stock valued at $1,079,000 after acquiring an additional 544 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

KNSL traded down $7.48 during trading on Friday, reaching $481.67. 245,295 shares of the stock were exchanged, compared to its average volume of 181,507. The business's 50 day moving average price is $468.84 and its two-hundred day moving average price is $459.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 1.78 and a beta of 1.19. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. Kinsale Capital Group's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 earnings per share. As a group, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group's payout ratio is 3.91%.

Insider Buying and Selling

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on KNSL. Truist Financial decreased their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Bank of America started coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 target price on the stock. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Morgan Stanley boosted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group has an average rating of "Hold" and an average price target of $491.88.

About Kinsale Capital Group

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.