South Dakota Investment Council Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

South Dakota Investment Council lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 23.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,363 shares of the financial services provider's stock after selling 1,300 shares during the period. South Dakota Investment Council's holdings in Kinsale Capital Group were worth $2,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Key Financial Inc raised its position in shares of Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Kinsale Capital Group in the first quarter worth $35,000. von Borstel & Associates Inc. purchased a new stake in shares of Kinsale Capital Group in the first quarter worth $42,000. Physician Wealth Advisors Inc. purchased a new stake in shares of Kinsale Capital Group in the fourth quarter worth $49,000. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 1.3%

Shares of KNSL traded down $6.03 during mid-day trading on Thursday, reaching $473.15. The company had a trading volume of 73,622 shares, compared to its average volume of 205,684. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a 50-day moving average price of $473.49 and a 200 day moving average price of $460.64. Kinsale Capital Group, Inc. has a 52 week low of $373.62 and a 52 week high of $531.79. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.56. The business had revenue of $423.40 million for the quarter, compared to analysts' expectations of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.50 EPS. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.91%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.