SG Americas Securities LLC Trims Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• SG Americas Securities LLC cut its Kinsale Capital Group stake by 33.3% in the first quarter, selling 8,463 shares and leaving it with 16,922 shares worth about $5.78 million.
• Kinsale Capital Group reported strong quarterly results, with EPS of $5.11 topping estimates of $4.70 and revenue of $466.71 million, while maintaining a robust net margin and return on equity.
• Despite the earnings beat, Wall Street sentiment remains cautious: analysts currently have an average rating of “Reduce,” and the stock was trading near $327.79, well below its 52-week high.

SG Americas Securities LLC decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 33.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,922 shares of the financial services provider's stock after selling 8,463 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Kinsale Capital Group worth $5,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter valued at about $25,000. Bayban acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth approximately $25,000. eCIO Inc. acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. increased its position in Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Down 0.2%

Shares of Kinsale Capital Group stock opened at $327.79 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $7.56 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.06 and a beta of 0.91. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The business has a 50-day moving average price of $315.58 and a 200 day moving average price of $356.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same period in the previous year, the business posted $3.71 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is 4.40%.

Insider Buying and Selling

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider directly owned 3,645 shares of the company's stock, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher R. Tangard bought 330 shares of the business's stock in a transaction on Monday, June 8th. The stock was bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company's stock, valued at $115,520. The trade was a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KNSL. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Jefferies Financial Group downgraded Kinsale Capital Group from a "hold" rating to an "underperform" rating and lowered their price target for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Truist Financial dropped their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald cut their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $374.90.

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.

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