Royal Bank of Canada Lowers Stock Position in Kinsale Capital Group, Inc. $KNSL

Royal Bank of Canada trimmed its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.3% in the 1st quarter, HoldingsChannel reports. The fund owned 108,867 shares of the financial services provider’s stock after selling 8,560 shares during the quarter. Royal Bank of Canada’s holdings in Kinsale Capital Group were worth $37,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth approximately $25,000. Bayban purchased a new position in shares of Kinsale Capital Group during the 4th quarter valued at $25,000. eCIO Inc. bought a new position in Kinsale Capital Group in the 4th quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. increased its stake in Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after buying an additional 54 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KNSL. Truist Financial lowered their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. 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. Finally, TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $362.11.

Kinsale Capital Group Trading Up 1.1%

Shares of KNSL stock opened at $360.29 on Tuesday. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $327.11 and its 200-day moving average price is $347.62. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.13 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results 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. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same period in the previous year, the business earned $4.78 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts predict that Kinsale Capital Group, Inc. will post 21.12 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.05%.

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.