Russell Investments Group Ltd. Sells 804 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Russell Investments Group Ltd. reduced its holdings in Kinsale Capital Group by 4.1%, selling 804 shares and owning 18,829 shares valued at approximately $9.2 million by the end of the first quarter.
• Analysts have raised their target prices for Kinsale Capital Group, with Truist Financial increasing its price from $500 to $560 and Bank of America initiating coverage with a buy rating and a target price of $543.
• Kinsale Capital Group recently reported earnings of $4.78 EPS for the quarter, surpassing estimates by $0.37, and experienced a significant year-over-year revenue increase of 22.2%.

Russell Investments Group Ltd. lowered its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,829 shares of the financial services provider's stock after selling 804 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Kinsale Capital Group worth $9,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Key Financial Inc increased its holdings in Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Kinsale Capital Group in the 1st quarter valued at $31,000. NBC Securities Inc. purchased a new stake in Kinsale Capital Group during the 1st quarter valued at $35,000. von Borstel & Associates Inc. purchased a new stake in Kinsale Capital Group during the 1st quarter valued at $42,000. Finally, Anderson Financial Strategies LLC purchased a new stake in Kinsale Capital Group during the 4th quarter valued at $54,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

KNSL traded down $4.8520 during trading hours on Friday, hitting $454.2080. The company's stock had a trading volume of 110,420 shares, compared to its average volume of 206,581. The business's 50-day moving average price is $466.15 and its 200-day moving average price is $462.99. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 1.67 and a beta of 1.12. 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 announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the previous year, the business posted $3.75 earnings per share. Kinsale Capital Group's quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) is 3.55%.

Insiders Place Their Bets

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 shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president owned 6,646 shares in the company, valued at $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Truist Financial raised their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Bank of America began 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 target for the company. Finally, Compass Point lifted their price target on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of "Hold" and a consensus target price of $505.80.

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.