Teacher Retirement System of Texas Sells 956 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Teacher Retirement System of Texas decreased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,073 shares of the financial services provider's stock after selling 956 shares during the period. Teacher Retirement System of Texas' holdings in Kinsale Capital Group were worth $2,956,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KNSL. GAMMA Investing LLC increased its position in Kinsale Capital Group by 59,220.7% in the 1st quarter. GAMMA Investing LLC now owns 309,061 shares of the financial services provider's stock valued at $150,423,000 after acquiring an additional 308,540 shares during the period. Norges Bank acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at $89,200,000. Alliancebernstein L.P. increased its position in shares of Kinsale Capital Group by 486.3% during the 4th quarter. Alliancebernstein L.P. now owns 214,045 shares of the financial services provider's stock valued at $99,559,000 after purchasing an additional 177,540 shares during the period. Premier Fund Managers Ltd increased its position in shares of Kinsale Capital Group by 20,286.0% during the 4th quarter. Premier Fund Managers Ltd now owns 104,784 shares of the financial services provider's stock valued at $48,813,000 after purchasing an additional 104,270 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at $22,933,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded up $2.27 during midday trading on Wednesday, reaching $487.46. 222,142 shares of the company traded hands, compared to its average volume of 180,452. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11. The stock's 50-day simple moving average is $465.86 and its 200-day simple moving average is $459.03. The firm has a market cap of $11.36 billion, a PE ratio of 28.05, a PEG ratio of 1.76 and a beta of 1.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.56. The firm had revenue of $423.40 million for the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $3.50 earnings per share. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.91%.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

KNSL has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on 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. Truist Financial decreased their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Morgan Stanley lifted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $491.88.

Kinsale Capital Group Company Profile

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.