Principal Financial Group Inc. Has $27.91 Million Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

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

A number of other institutional investors also recently modified their holdings of KNSL. GAMMA Investing LLC lifted its holdings in shares of Kinsale Capital Group by 59,220.7% in the first quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after purchasing an additional 308,540 shares in the last quarter. Norges Bank bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $89,200,000. Alliancebernstein L.P. lifted its holdings in shares of Kinsale Capital Group by 486.3% in the fourth quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock valued at $99,559,000 after purchasing an additional 177,540 shares in the last quarter. Premier Fund Managers Ltd lifted its holdings in shares of Kinsale Capital Group by 20,286.0% in the fourth quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after purchasing an additional 104,270 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $22,933,000. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KNSL. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Truist Financial lowered their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Seven equities research 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, the company has a consensus rating of "Hold" and a consensus price target of $491.88.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock traded up $1.08 on Thursday, hitting $490.04. The stock had a trading volume of 184,813 shares, compared to its average volume of 180,974. Kinsale Capital Group, Inc. has a twelve month low of $366.92 and a twelve month high of $531.79. The business's 50 day moving average is $466.91 and its two-hundred day moving average is $459.23. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.12. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The business had revenue of $423.40 million for the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the prior year, the business posted $3.50 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.17 dividend. 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 3.91%.

Insider Activity at Kinsale Capital Group

In other 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 transaction, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

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.