Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Fmr LLC

Fmr LLC cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 88,709 shares of the financial services provider’s stock after selling 3,141 shares during the period. Fmr LLC’s holdings in Kinsale Capital Group were worth $41,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geneva Capital Management LLC increased its position in Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Kinsale Capital Group by 7,392.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,035 shares during the last quarter. Swedbank AB purchased a new position in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $15,430,000. QRG Capital Management Inc. acquired a new stake in Kinsale Capital Group in the 2nd quarter worth approximately $503,000. Finally, Bridges Investment Management Inc. purchased a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $642,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the sale, the director now owns 447 shares in the company, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the transaction, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $524.22 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.14 and a beta of 1.13. The firm’s 50 day simple moving average is $471.01 and its 200-day simple moving average is $441.15. 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, beating the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the business earned $3.31 earnings per share. Analysts expect that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.11%. Kinsale Capital Group’s payout ratio is 3.42%.

Analyst Ratings Changes

Several equities research analysts have recently commented on KNSL shares. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Morgan Stanley initiated coverage on Kinsale Capital Group in a research note on Thursday. They set an “overweight” rating and a $593.00 price target on the stock. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research note on Monday, October 28th. Jefferies Financial Group lifted their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets increased their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $472.00.

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.