Belpointe Asset Management LLC Sells 332 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Belpointe Asset Management LLC cut its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,920 shares of the financial services provider’s stock after selling 332 shares during the quarter. Belpointe Asset Management LLC’s holdings in Kinsale Capital Group were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Kinsale Capital Group in the first quarter valued at about $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $33,000. Trust Co. of Vermont increased its holdings in shares of Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 50 shares during the period. Quarry LP acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $40,000. Finally, Principal Securities Inc. bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $44,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

KNSL stock opened at $465.27 on Friday. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50 day simple moving average of $435.59 and a 200 day simple moving average of $439.47. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company had revenue of $384.55 million during the quarter, compared to the consensus estimate of $410.20 million. During the same period in the prior year, the business earned $2.88 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts anticipate that Kinsale Capital Group, Inc. will post 15.29 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, August 29th. Kinsale Capital Group’s payout ratio is 3.99%.

Analysts Set New Price Targets

KNSL has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Truist Financial boosted their price target on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen assumed coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They set a “hold” rating and a $403.00 price objective on the stock. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $443.38.

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.