Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,983 shares of the financial services provider’s stock after selling 49 shares during the quarter. First Hawaiian Bank’s holdings in Kinsale Capital Group were worth $1,041,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KNSL. Janney Montgomery Scott LLC boosted its position in Kinsale Capital Group by 1.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 1,554 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 29 shares during the period. HighTower Advisors LLC raised its stake in shares of Kinsale Capital Group by 8.2% in the 3rd quarter. HighTower Advisors LLC now owns 2,558 shares of the financial services provider’s stock worth $1,048,000 after buying an additional 193 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Kinsale Capital Group in the 3rd quarter worth $1,177,000. Envestnet Asset Management Inc. raised its stake in shares of Kinsale Capital Group by 32.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 109,822 shares of the financial services provider’s stock worth $45,481,000 after buying an additional 27,015 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Kinsale Capital Group by 5.4% in the 3rd quarter. FMR LLC now owns 19,104 shares of the financial services provider’s stock worth $7,912,000 after buying an additional 983 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 1.1 %

Shares of Kinsale Capital Group stock opened at $394.23 on Thursday. The stock’s fifty day moving average is $399.30 and its 200-day moving average is $417.35. The firm has a market capitalization of $9.18 billion, a PE ratio of 26.19 and a beta of 1.07. 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 12-month low of $325.01 and a 12-month high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. Kinsale Capital Group’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. Equities analysts anticipate that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Friday, May 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, May 31st. Kinsale Capital Group’s payout ratio is 3.99%.

Insider Activity at Kinsale Capital Group

In related news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the transaction, the chief operating officer now directly owns 95,850 shares of the company’s stock, valued at $35,247,879. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KNSL shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. TD Cowen started coverage on Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 price objective on the stock. BMO Capital Markets dropped their price objective on 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. Truist Financial cut 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. Finally, Compass Point cut 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. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $434.00.

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.