Truist Financial Corp Sells 6,655 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Truist Financial cut its Kinsale Capital Group stake by nearly 50% in the fourth quarter, selling 6,655 shares and leaving it with 6,719 shares worth about $2.63 million.
• Kinsale reported strong quarterly earnings, posting $5.11 EPS versus the $4.70 consensus and revenue of $466.71 million, while analysts still expect full-year EPS of 20.58.
• The stock has seen mixed sentiment: the company announced a quarterly dividend of $0.25 per share, but analysts currently rate it a Hold on average, and CEO Michael P. Kehoe recently sold 22,576 shares.

Truist Financial Corp trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 49.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,719 shares of the financial services provider's stock after selling 6,655 shares during the quarter. Truist Financial Corp's holdings in Kinsale Capital Group were worth $2,628,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KNSL. AQR Capital Management LLC raised its holdings in Kinsale Capital Group by 76.2% in the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after acquiring an additional 361 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Kinsale Capital Group by 72.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 43 shares during the period. Brown Advisory Inc. raised its holdings in Kinsale Capital Group by 7.9% in the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC raised its holdings in Kinsale Capital Group by 136.9% in the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after acquiring an additional 634 shares during the period. Finally, Cerity Partners LLC raised its holdings in Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after acquiring an additional 1,566 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Performance

Shares of NYSE:KNSL opened at $303.23 on Wednesday. The company's 50 day moving average price is $345.12 and its two-hundred day moving average price is $375.28. Kinsale Capital Group, Inc. has a 12-month low of $293.78 and a 12-month high of $512.76. The firm has a market cap of $6.99 billion, a PE ratio of 13.35, a PEG ratio of 0.97 and a beta of 0.95. 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 (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the business posted $3.71 EPS. The business's revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Kinsale Capital Group, Inc. will post 20.58 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given 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 is Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is presently 4.40%.

Analyst Ratings Changes

Several research firms have weighed in on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Morgan Stanley reissued an "equal weight" rating and issued a $350.00 price target (down from $450.00) on shares of Kinsale Capital Group in a report on Monday, April 6th. JPMorgan Chase & Co. lowered their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Truist Financial decreased their target price 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. Finally, BMO Capital Markets lowered shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 target price on the stock. in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $392.00.

Insider Activity

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by insiders.

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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