Handelsbanken Fonder AB Sells 10,365 Shares of Kinsale Capital Group, Inc. $KNSL

Handelsbanken Fonder AB lowered its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 22.3% during the second quarter, HoldingsChannel.com reports. The fund owned 36,195 shares of the financial services provider’s stock after selling 10,365 shares during the period. Handelsbanken Fonder AB’s holdings in Kinsale Capital Group were worth $11,937,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Life Cycle Investment Partners Ltd bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $229,653,000. Capital World Investors raised its position in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after purchasing an additional 533,499 shares during the last quarter. Norges Bank bought a new stake in shares of Kinsale Capital Group during the fourth quarter worth $107,916,000. Bank of America Corp DE lifted its stake in shares of Kinsale Capital Group by 89.0% during the first quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider’s stock valued at $97,556,000 after acquiring an additional 134,468 shares during the period. Finally, Turtle Creek Asset Management Inc. boosted its holdings in Kinsale Capital Group by 47.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after acquiring an additional 132,576 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. The trade was a 660.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL opened at $376.78 on Friday. The business has a 50 day moving average of $338.31 and a 200-day moving average of $345.91. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.18 and a beta of 0.89. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to analysts’ expectations of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.78 earnings per share. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KNSL. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. JPMorgan Chase & Co. increased their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. TD Cowen restated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Weiss Ratings cut Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Finally, Morgan Stanley decreased their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $362.11.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.