Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Kinsale Capital Group by 0.3%, selling 5,555 shares and now owns approximately 9.04% of the company, valued at $1.03 billion.
• Various institutional investors, including DAVENPORT & Co LLC and GAMMA Investing LLC, have increased their positions in Kinsale Capital Group, with GAMMA increasing its stake by an astonishing 59,220.7%.
• Kinsale Capital Group reported a quarterly earnings per share (EPS) of $4.78, exceeding expectations and marking a revenue increase of 22.2% compared to the same quarter last year.

Vanguard Group Inc. decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,108,128 shares of the financial services provider's stock after selling 5,555 shares during the quarter. Vanguard Group Inc. owned approximately 9.04% of Kinsale Capital Group worth $1,026,047,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Key Financial Inc grew its stake in Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $31,000. NBC Securities Inc. purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $35,000. von Borstel & Associates Inc. purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $42,000. Finally, Anderson Financial Strategies LLC purchased a new position in Kinsale Capital Group during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KNSL shares. 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. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Truist Financial lifted their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Bank of America started coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of "Hold" and an average target price of $505.80.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction 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 completion of the transaction, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 5.50% of the company's stock.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded down $2.60 during trading on Friday, reaching $451.08. The company's stock had a trading volume of 120,502 shares, compared to its average volume of 206,840. 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 12-month low of $405.00 and a 12-month high of $531.79. The company has a market capitalization of $10.51 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The business has a 50 day moving average price of $467.69 and a 200-day moving average price of $462.77.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts' consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.75 earnings per share. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's payout ratio is currently 3.55%.

About Kinsale Capital Group

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.