Principal Financial Group Inc. Sells 24,871 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Principal Financial Group Inc. trimmed its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 30.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,341 shares of the financial services provider's stock after selling 24,871 shares during the period. Principal Financial Group Inc. owned about 0.25% of Kinsale Capital Group worth $27,909,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Kinsale Capital Group by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after buying an additional 254 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of Kinsale Capital Group by 43.9% during the first quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock worth $39,387,000 after buying an additional 24,681 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Kinsale Capital Group by 26.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,828 shares of the financial services provider's stock worth $1,377,000 after buying an additional 584 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Kinsale Capital Group by 14.7% during the first quarter. Diversified Trust Co now owns 4,785 shares of the financial services provider's stock worth $2,329,000 after buying an additional 612 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Kinsale Capital Group by 29.4% during the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock worth $9,310,000 after buying an additional 4,644 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the transaction, the executive vice president owned 6,646 shares of the company's stock, valued at $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company's stock.

Analyst Upgrades and Downgrades

KNSL has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley increased their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Bank of America started coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. Finally, Truist Financial reduced their price objective on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of "Hold" and an average target price of $491.88.

Kinsale Capital Group Stock Performance

NYSE KNSL traded up $2.27 during trading on Wednesday, reaching $487.46. The company's stock had a trading volume of 222,142 shares, compared to its average volume of 180,452. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The firm has a 50 day moving average price of $465.86 and a 200 day moving average price of $459.03.

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

Kinsale Capital Group Announces Dividend

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

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.