Wedbush Securities Inc. Cuts Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Wedbush Securities Inc. decreased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 28.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 795 shares of the financial services provider’s stock after selling 323 shares during the quarter. Wedbush Securities Inc.’s holdings in Kinsale Capital Group were worth $306,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KNSL. Headlands Technologies LLC acquired a new position in shares of Kinsale Capital Group during the 1st quarter worth about $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth about $33,000. Trust Co. of Vermont boosted its position in shares of Kinsale Capital Group by 113.6% during the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. Quarry LP acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth about $40,000. Finally, Principal Securities Inc. acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Up 1.6 %

Kinsale Capital Group stock opened at $464.53 on Friday. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The stock has a 50 day moving average of $444.83 and a two-hundred day moving average of $437.18. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.98 and a beta of 1.08.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The company had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. During the same period last year, the firm earned $2.88 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Analyst Upgrades and Downgrades

KNSL has been the subject of several analyst reports. TD Cowen initiated coverage on Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 price objective for the company. Oppenheimer began coverage on Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upped their target price on Kinsale Capital Group from $400.00 to $420.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Truist Financial upped their target price on Kinsale Capital Group from $440.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada upped their target price on Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and an average price target of $443.38.

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.