Trust Point Inc. Trims Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Trust Point Inc. cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 34.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,786 shares of the financial services provider's stock after selling 952 shares during the period. Trust Point Inc.'s holdings in Kinsale Capital Group were worth $869,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Kinsale Capital Group by 26.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,828 shares of the financial services provider's stock worth $1,377,000 after buying an additional 584 shares during the period. West Branch Capital LLC bought a new stake in Kinsale Capital Group during the 1st quarter worth approximately $122,000. Marshall Financial Group LLC lifted its holdings in Kinsale Capital Group by 12.4% during the first quarter. Marshall Financial Group LLC now owns 2,222 shares of the financial services provider's stock valued at $1,081,000 after purchasing an additional 246 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Kinsale Capital Group during the first quarter valued at approximately $110,000. Finally, Fifth Third Bancorp boosted its position in shares of Kinsale Capital Group by 19.6% in the first quarter. Fifth Third Bancorp now owns 592 shares of the financial services provider's stock worth $288,000 after purchasing an additional 97 shares during the period. Institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Kinsale Capital Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. JPMorgan Chase & Co. dropped their price objective on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Morgan Stanley lifted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Finally, Truist Financial dropped their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $484.57.

Kinsale Capital Group Price Performance

NYSE KNSL traded down $2.94 during trading on Thursday, hitting $461.57. 204,371 shares of the stock traded hands, compared to its average volume of 175,774. The company has a market capitalization of $10.76 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. Kinsale Capital Group, Inc. has a 12-month low of $366.92 and a 12-month high of $531.79. The firm has a 50-day simple moving average of $464.93 and a 200-day simple moving average of $461.37. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.56. The firm had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 24.73% and a return on equity of 26.36%. Kinsale Capital Group's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $3.50 earnings per share. As a group, analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Insider Activity

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the sale, the executive vice president now directly owns 6,646 shares of the company's stock, valued at $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.50% of the company's stock.

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.