C M Bidwell & Associates Ltd. Cuts Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

C M Bidwell & Associates Ltd. lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178 shares of the financial services provider’s stock after selling 161 shares during the quarter. C M Bidwell & Associates Ltd.’s holdings in Kinsale Capital Group were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KNSL. Chilton Investment Co. Inc. lifted its position in shares of Kinsale Capital Group by 940.2% during the 4th quarter. Chilton Investment Co. Inc. now owns 10,402 shares of the financial services provider’s stock valued at $3,484,000 after buying an additional 9,402 shares in the last quarter. Personal CFO Solutions LLC raised its position in Kinsale Capital Group by 3.7% during the fourth quarter. Personal CFO Solutions LLC now owns 984 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 35 shares during the period. Prudential PLC purchased a new position in Kinsale Capital Group during the fourth quarter valued at $3,836,000. 1832 Asset Management L.P. acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $7,790,000. Finally, Oppenheimer & Co. Inc. grew its position in shares of Kinsale Capital Group by 7.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,958 shares of the financial services provider’s stock valued at $2,330,000 after purchasing an additional 504 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 0.5 %

Shares of KNSL opened at $386.53 on Thursday. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $405.39 and a two-hundred day simple moving average of $416.06. The company has a market capitalization of $9.00 billion, a PE ratio of 25.68 and a beta of 1.07.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data 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 net margin of 26.33% and a return on equity of 31.21%. The firm had revenue of $372.79 million during the quarter, compared to analyst estimates of $366.45 million. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Kinsale Capital Group’s quarterly revenue was up 41.7% on a year-over-year basis. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 14.96 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, May 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Compass Point decreased their target price on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. TD Cowen started coverage on Kinsale Capital Group in a report on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. Finally, BMO Capital Markets lowered their target price on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $434.00.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total value of $1,389,321.72. Following the completion of the transaction, the chief operating officer now directly owns 95,850 shares in the company, valued at $35,247,879. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.60% 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.