Victory Capital Management Inc. Has $3.46 Million Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Victory Capital Management Inc. cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,118 shares of the financial services provider's stock after selling 2,443 shares during the period. Victory Capital Management Inc.'s holdings in Kinsale Capital Group were worth $3,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of Kinsale Capital Group by 10.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after purchasing an additional 254 shares during the last quarter. Bridges Investment Management Inc. boosted its position in shares of Kinsale Capital Group by 111.5% during the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after buying an additional 2,650 shares during the last quarter. M&T Bank Corp grew its holdings in Kinsale Capital Group by 43.4% during the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock worth $1,787,000 after buying an additional 1,111 shares in the last quarter. Artemis Investment Management LLP raised its position in Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after buying an additional 24,681 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in Kinsale Capital Group in the 1st quarter valued at $270,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KNSL. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Truist Financial dropped their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Morgan Stanley increased their price objective on shares of 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, Bank of America started coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $491.88.

Kinsale Capital Group Stock Up 0.2%

KNSL opened at $477.28 on Monday. Kinsale Capital Group, Inc. has a twelve month low of $402.22 and a twelve month high of $531.79. The company's 50-day moving average price is $474.09 and its two-hundred day moving average price is $461.93. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.76 and a beta of 1.19. 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 posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. During the same quarter in the previous year, the firm posted $3.75 EPS. Kinsale Capital Group's revenue was up 22.2% on a year-over-year basis. As a group, equities analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared 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. The ex-dividend date was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group's dividend payout ratio is presently 3.55%.

Insider Buying and Selling at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

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.

Want to see what other hedge funds are holding KNSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.