Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 71.7% during the second quarter, Holdings Channel reports. The firm owned 21,163 shares of the financial services provider’s stock after selling 53,713 shares during the period. Victory Capital Management Inc.’s holdings in Kinsale Capital Group were worth $8,154,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Kinsale Capital Group in the 1st quarter worth $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth about $33,000. Trust Co. of Vermont lifted its stake in shares of Kinsale Capital Group by 113.6% in the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Quarry LP purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $40,000. Finally, Principal Securities Inc. acquired a new stake in Kinsale Capital Group during the 4th quarter worth approximately $44,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $464.53 on Monday. The stock has a market capitalization of $10.82 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.98 and a beta of 1.08. 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 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $444.83 and its two-hundred day moving average price is $436.64.

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, beating 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 analyst estimates of $410.20 million. During the same quarter in the previous year, the business earned $2.88 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Analyst Ratings Changes

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

Kinsale Capital Group Company 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.