Swedbank AB Has $25.44 Million Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Swedbank AB reduced its stake in Kinsale Capital Group by 5.8% in the fourth quarter, though it still held 65,053 shares valued at about $25.44 million.
• Kinsale reported better-than-expected quarterly earnings of $5.11 per share versus estimates of $4.70, alongside revenue of $466.71 million that topped analyst forecasts.
• The company also announced a quarterly dividend of $0.25 per share, while analysts currently have a consensus rating of Hold with a price target of $390.18.

Swedbank AB cut its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,053 shares of the financial services provider's stock after selling 3,997 shares during the period. Swedbank AB owned 0.28% of Kinsale Capital Group worth $25,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc boosted its position in Kinsale Capital Group by 5.1% in the fourth quarter. Prospera Financial Services Inc now owns 2,723 shares of the financial services provider's stock valued at $1,065,000 after buying an additional 132 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. Jefferies Financial Group Inc. lifted its position in shares of Kinsale Capital Group by 1,472.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 7,596 shares of the financial services provider's stock worth $2,971,000 after purchasing an additional 7,113 shares in the last quarter. Cumberland Partners Ltd acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $2,347,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Kinsale Capital Group by 997.8% in the fourth quarter. Global Retirement Partners LLC now owns 999 shares of the financial services provider's stock valued at $391,000 after purchasing an additional 908 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Up 0.1%

Shares of NYSE KNSL opened at $310.59 on Tuesday. The company's 50 day simple moving average is $333.74 and its 200 day simple moving average is $368.94. Kinsale Capital Group, Inc. has a fifty-two week low of $293.78 and a fifty-two week high of $512.76. The firm has a market capitalization of $7.16 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share 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 for the quarter, compared to analyst estimates of $410.25 million. During the same period in the prior year, the business posted $3.71 earnings per share. Kinsale Capital Group's revenue was down .5% compared to the same quarter last year. On average, analysts predict that Kinsale Capital Group, Inc. will post 20.58 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is currently 4.40%.

Analysts Set New Price Targets

Several research analysts recently weighed in on KNSL shares. Jefferies Financial Group cut shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and dropped their price objective for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. Royal Bank Of Canada dropped their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. BMO Capital Markets cut shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective for the company. in a research report on Wednesday, February 25th. Cantor Fitzgerald dropped 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, JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $390.18.

Insiders Place Their Bets

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.60% of the company's stock.

Kinsale Capital Group Company 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.

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