Principal Financial Group Inc. Has $45.79 Million Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Principal Financial Group Inc. reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,714 shares of the financial services provider's stock after selling 42,451 shares during the period. Principal Financial Group Inc. owned 0.59% of Kinsale Capital Group worth $45,787,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KNSL. Fifth Third Bancorp raised its holdings in Kinsale Capital Group by 7.2% in the 3rd quarter. Fifth Third Bancorp now owns 479 shares of the financial services provider's stock valued at $198,000 after acquiring an additional 32 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Kinsale Capital Group by 41.7% in the third quarter. Teacher Retirement System of Texas now owns 11,670 shares of the financial services provider's stock valued at $4,833,000 after purchasing an additional 3,437 shares during the last quarter. Money Concepts Capital Corp boosted its stake in Kinsale Capital Group by 6.9% during the third quarter. Money Concepts Capital Corp now owns 758 shares of the financial services provider's stock worth $314,000 after buying an additional 49 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Kinsale Capital Group by 53.3% in the 3rd quarter. Congress Asset Management Co. MA now owns 9,102 shares of the financial services provider's stock valued at $3,769,000 after buying an additional 3,165 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of Kinsale Capital Group by 4.0% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 1,105 shares of the financial services provider's stock worth $458,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 1.8 %

Kinsale Capital Group stock traded up $7.05 during mid-day trading on Friday, reaching $390.92. 140,354 shares of the company's stock were exchanged, compared to its average volume of 202,631. The company has a fifty day moving average of $453.55 and a 200-day moving average of $411.23. The company has a market cap of $9.10 billion, a P/E ratio of 25.88 and a beta of 0.98. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same period last year, the business posted $2.44 earnings per share. Kinsale Capital Group's revenue was up 41.7% compared to the same quarter last year. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 15.07 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.15%. Kinsale Capital Group's dividend payout ratio is currently 3.99%.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 4,000 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Michael P. Kehoe sold 4,000 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now directly owns 303,972 shares of the company's stock, valued at approximately $159,199,255.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick L. Jr. Russell sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now owns 887 shares in the company, valued at approximately $464,867.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,778 shares of company stock valued at $4,532,422. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KNSL. 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 note on Monday, February 26th. BMO Capital Markets lowered their price objective on Kinsale Capital Group from $544.00 to $453.00 and set a "market perform" rating for the company in a research report on Tuesday, April 30th. Truist Financial reduced their target price on Kinsale Capital Group from $600.00 to $440.00 and set a "buy" rating on the stock in a research report on Monday, April 29th. Compass Point cut their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a "neutral" rating for the company in a research report on Monday, April 29th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of "Hold" and a consensus target price of $438.43.

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.