Redwood Investments LLC Reduces Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Redwood Investments LLC trimmed its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 48.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,766 shares of the financial services provider's stock after selling 20,831 shares during the quarter. Kinsale Capital Group comprises 1.9% of Redwood Investments LLC's holdings, making the stock its 8th biggest position. Redwood Investments LLC owned about 0.09% of Kinsale Capital Group worth $7,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Kinsale Capital Group by 9.6% in the 3rd quarter. CWM LLC now owns 286 shares of the financial services provider's stock worth $118,000 after purchasing an additional 25 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Kinsale Capital Group by 1.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider's stock worth $643,000 after purchasing an additional 29 shares during the last quarter. Atlas Capital Advisors LLC grew its stake in shares of Kinsale Capital Group by 12.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 261 shares of the financial services provider's stock worth $98,000 after purchasing an additional 29 shares during the last quarter. Pearl River Capital LLC grew its stake in shares of Kinsale Capital Group by 5.2% in the 3rd quarter. Pearl River Capital LLC now owns 604 shares of the financial services provider's stock worth $250,000 after purchasing an additional 30 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. grew its stake in shares of Kinsale Capital Group by 1.1% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider's stock worth $889,000 after purchasing an additional 30 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on KNSL. BMO Capital Markets downgraded shares of Kinsale Capital Group from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Royal Bank of Canada lifted their target price on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 20th. Truist Financial lifted their target price on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $510.00.

Kinsale Capital Group Stock Down 2.3 %

Shares of KNSL stock traded down $12.09 during trading on Monday, hitting $512.65. 130,280 shares of the company were exchanged, compared to its average volume of 179,891. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 38.81 and a beta of 0.89. The business's 50-day simple moving average is $477.01 and its 200 day simple moving average is $411.87. Kinsale Capital Group, Inc. has a twelve month low of $292.37 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Friday, February 16th. The financial services provider reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.43. The firm had revenue of $351.17 million during the quarter, compared to analysts' expectations of $367.98 million. Kinsale Capital Group had a net margin of 25.29% and a return on equity of 31.52%. The company's revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.60 earnings per share. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 15.21 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. This is a boost from Kinsale Capital Group's previous quarterly dividend of $0.14. The ex-dividend date was Monday, February 26th. Kinsale Capital Group's payout ratio is presently 4.54%.

Insider Transactions at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael P. Kehoe sold 4,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the transaction, the chief executive officer now owns 303,972 shares of the company's stock, valued at $159,199,255.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Kinsale Capital Group 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.