Northwestern Mutual Wealth Management Co. Increases Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Northwestern Mutual Wealth Management boosted its Kinsale Capital Group stake by 676.4% in the fourth quarter, ending with 5,815 shares worth about $2.27 million.
• CEO Michael P. Kehoe sold 22,576 shares on May 5 at an average price of $302.66, a transaction valued at $6.83 million.
• Kinsale reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $466.71 million topping expectations, while analysts currently rate the stock a Hold on average.

Northwestern Mutual Wealth Management Co. increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 676.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,815 shares of the financial services provider's stock after purchasing an additional 5,066 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Kinsale Capital Group were worth $2,274,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Isthmus Partners LLC purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $8,110,000. JPMorgan Chase & Co. increased its holdings in shares of Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider's stock valued at $191,386,000 after purchasing an additional 25,428 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Kinsale Capital Group by 17.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider's stock valued at $9,569,000 after purchasing an additional 3,305 shares in the last quarter. Leibman Financial Services Inc. increased its holdings in shares of Kinsale Capital Group by 109.9% in the 4th quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider's stock valued at $3,691,000 after purchasing an additional 4,942 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Kinsale Capital Group by 7,444.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider's stock valued at $16,041,000 after purchasing an additional 37,221 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of research analyst reports. Cantor Fitzgerald cut their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a report on Thursday, April 9th. JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Jefferies Financial Group cut shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective on the stock. in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, May 3rd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $390.18.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $312.28 on Wednesday. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.00 and a beta of 0.95. Kinsale Capital Group, Inc. has a 52 week low of $293.78 and a 52 week high of $512.76. The company's 50-day moving average price is $332.73 and its 200 day moving average price is $368.36. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

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, beating analysts' consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to analysts' expectations of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $3.71 EPS. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 20.58 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio (DPR) is currently 4.40%.

About Kinsale Capital Group

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.