Settian Capital LP Cuts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Settian Capital LP cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 50.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,000 shares of the financial services provider's stock after selling 5,000 shares during the period. Kinsale Capital Group comprises approximately 1.9% of Settian Capital LP's holdings, making the stock its 16th largest position. Settian Capital LP's holdings in Kinsale Capital Group were worth $2,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KNSL. Cambridge Investment Research Advisors Inc. increased its stake in shares of Kinsale Capital Group by 10.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after purchasing an additional 254 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of Kinsale Capital Group by 111.5% during the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after purchasing an additional 2,650 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Kinsale Capital Group by 43.4% in the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after acquiring an additional 1,111 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after acquiring an additional 24,681 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in shares of Kinsale Capital Group in the 1st quarter valued at about $270,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of analyst reports. Truist Financial lowered their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" 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 report on Sunday, June 22nd. Morgan Stanley increased their price objective 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. Bank of America started coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They issued a "buy" rating and a $543.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of "Hold" and an average target price of $491.88.

Kinsale Capital Group Trading Down 0.7%

Shares of NYSE:KNSL traded down $3.12 during trading on Thursday, reaching $476.06. 94,633 shares of the company were exchanged, compared to its average volume of 205,846. The firm has a market capitalization of $11.10 billion, a PE ratio of 27.40, a P/E/G ratio of 1.80 and a beta of 1.19. The business's fifty day simple moving average is $473.49 and its 200-day simple moving average is $460.64. Kinsale Capital Group, Inc. has a 12-month low of $373.62 and a 12-month high of $531.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.11 and a quick ratio of 0.11.

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

Kinsale Capital Group Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given 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 dividend payout ratio (DPR) is presently 3.91%.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction that occurred 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 directly 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 SEC, which is available through this link. 5.50% of the stock is currently owned by insiders.

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.