Stephens Investment Management Group LLC Has $42.01 Million Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Stephens Investment Management Group cut its Kinsale Capital Group stake by 40.9% in the first quarter, selling 85,118 shares and ending with 122,957 shares valued at about $42.0 million.
• Kinsale reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $466.71 million topping forecasts, while full-year EPS is projected at 20.65.
• Despite the earnings beat, analyst sentiment remains cautious: the stock has a Reduce consensus rating, and several firms have recently cut price targets or downgraded the shares.

Stephens Investment Management Group LLC decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,957 shares of the financial services provider's stock after selling 85,118 shares during the quarter. Stephens Investment Management Group LLC owned about 0.53% of Kinsale Capital Group worth $42,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNSL. Life Cycle Investment Partners Ltd acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. Capital World Investors boosted its position in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock valued at $386,366,000 after acquiring an additional 533,499 shares during the period. Norges Bank acquired a new stake in shares of Kinsale Capital Group in the fourth quarter worth $107,916,000. First Manhattan CO. LLC. grew its stake in shares of Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock worth $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Finally, M&T Bank Corp increased its position in Kinsale Capital Group by 2,621.6% during the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider's stock worth $35,638,000 after acquiring an additional 87,770 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Insider Transactions at Kinsale Capital Group

In other news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Stock Performance

KNSL opened at $353.92 on Friday. The stock's 50 day simple moving average is $314.14 and its 200-day simple moving average is $354.91. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.16 billion, a PE ratio of 15.58, a P/E/G ratio of 1.15 and a beta of 0.90. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76.

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

Kinsale Capital Group Announces Dividend

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

Analyst Ratings Changes

KNSL has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, June 26th. TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Cantor Fitzgerald cut their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Finally, Truist Financial cut their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $374.90.

Kinsale Capital Group Profile

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.

Want to see what other hedge funds are holding KNSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.