Renaissance Group LLC Has $6.75 Million Holdings in Kinsale Capital Group, Inc. $KNSL

Renaissance Group LLC reduced its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,257 shares of the financial services provider’s stock after selling 2,559 shares during the quarter. Renaissance Group LLC owned 0.07% of Kinsale Capital Group worth $6,750,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Bamco Inc. NY raised its stake in Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after purchasing an additional 24,796 shares during the last quarter. Capital World Investors raised its stake in Kinsale Capital Group by 117.4% during the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after purchasing an additional 533,499 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group in the 4th quarter valued at $229,653,000. DAVENPORT & Co LLC increased its holdings in Kinsale Capital Group by 1.9% in the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after buying an additional 10,137 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after buying an additional 25,428 shares during the period. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KNSL. Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Royal Bank Of Canada lowered their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a report on Wednesday, February 25th. Finally, Truist Financial lowered their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $390.18.

Kinsale Capital Group Stock Up 3.6%

Shares of NYSE:KNSL opened at $314.09 on Thursday. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The company’s 50-day moving average price is $325.27 and its two-hundred day moving average price is $361.59. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $7.24 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.98 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the firm earned $3.71 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.40%.

Insiders Place Their Bets

In related news, CAO Christopher R. Tangard acquired 330 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, with a total value of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% 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 Company 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.