Swedbank AB Sells 16,000 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Swedbank AB cut its stake in Kinsale Capital Group by 24.6% in the first quarter, selling 16,000 shares and leaving it with 49,053 shares valued at about $16.76 million.
• Kinsale Capital Group reported strong quarterly results, posting EPS of $5.11 versus the $4.70 consensus and revenue of $466.71 million, both above analyst expectations.
• The stock has faced mixed sentiment: several analysts have downgraded or trimmed price targets, while insiders showed activity with CEO Michael P. Kehoe selling shares and CAO Christopher R. Tangard buying shares.

Swedbank AB reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 24.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,053 shares of the financial services provider's stock after selling 16,000 shares during the period. Swedbank AB owned approximately 0.21% of Kinsale Capital Group worth $16,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter worth $25,000. Bayban bought a new stake in Kinsale Capital Group in the fourth quarter valued at about $25,000. eCIO Inc. bought a new stake in Kinsale Capital Group in the fourth quarter valued at about $29,000. International Assets Investment Management LLC acquired a new position in Kinsale Capital Group in the fourth quarter valued at about $29,000. Finally, Johnson Financial Group Inc. lifted its stake in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after buying an additional 54 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Down 2.2%

Kinsale Capital Group stock opened at $338.52 on Friday. The company has a 50 day moving average of $314.71 and a 200-day moving average of $353.43. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $512.76. The stock has a market capitalization of $7.81 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90.

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

Kinsale Capital Group Dividend Announcement

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

Wall Street Analyst Weigh In

KNSL has been the subject of a number of recent analyst reports. Weiss Ratings cut Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 26th. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and lowered their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Truist Financial reduced their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Finally, TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $375.80.

Insider Activity

In other news, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the transaction, the chief executive officer directly owned 308,048 shares of the company's stock, valued at $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher R. Tangard bought 330 shares of the company's stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 5.60% of the company's stock.

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.

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