Procyon Advisors LLC Reduces Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Procyon Advisors LLC trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 15.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 629 shares of the financial services provider’s stock after selling 111 shares during the period. Procyon Advisors LLC’s holdings in Kinsale Capital Group were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. lifted its stake in shares of Kinsale Capital Group by 9.9% during the second quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock valued at $103,000 after buying an additional 24 shares during the period. Leibman Financial Services Inc. lifted its stake in shares of Kinsale Capital Group by 0.5% during the 3rd quarter. Leibman Financial Services Inc. now owns 4,562 shares of the financial services provider’s stock worth $2,124,000 after purchasing an additional 24 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Kinsale Capital Group by 9.2% during the second quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 28 shares during the last quarter. CWM LLC grew its position in shares of Kinsale Capital Group by 8.8% in the third quarter. CWM LLC now owns 406 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 33 shares during the period. Finally, Hancock Whitney Corp lifted its position in Kinsale Capital Group by 3.1% during the first quarter. Hancock Whitney Corp now owns 1,245 shares of the financial services provider’s stock worth $653,000 after buying an additional 38 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Up 1.2 %

Shares of KNSL opened at $471.40 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The stock has a market cap of $10.97 billion, a PE ratio of 31.32, a P/E/G ratio of 2.05 and a beta of 1.08. The stock’s 50-day moving average is $469.67 and its two-hundred day moving average is $427.83.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results 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. The firm had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $410.20 million. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. Kinsale Capital Group’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. Equities analysts forecast that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.99%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada upped their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Wolfe Research cut Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a report on Monday, September 16th. Jefferies Financial Group upped their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer initiated coverage on Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating on the stock. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $446.00.

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.