Handelsinvest Investeringsforvaltning Sells 258 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Handelsinvest Investeringsforvaltning reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 34.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 497 shares of the financial services provider’s stock after selling 258 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Kinsale Capital Group were worth $261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC bought a new stake in Kinsale Capital Group in the 4th quarter valued at $25,000. Beacon Capital Management LLC bought a new stake in Kinsale Capital Group in the 4th quarter valued at $33,000. Brown Brothers Harriman & Co. bought a new stake in Kinsale Capital Group in the 4th quarter valued at $33,000. Quarry LP bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $40,000. Finally, Principal Securities Inc. bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth about $44,000. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Trading Up 0.4 %

Kinsale Capital Group stock traded up $1.57 during trading hours on Wednesday, hitting $383.01. The company had a trading volume of 9,105 shares, compared to its average volume of 186,784. The firm has a market cap of $8.92 billion, a P/E ratio of 25.34 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The company has a 50-day moving average price of $387.36 and a two-hundred day moving average price of $421.13.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. The company had revenue of $372.79 million during the quarter, compared to analysts’ expectations of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Compass Point reduced their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. BMO Capital Markets dropped their price target on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 price target (down from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Finally, TD Cowen started coverage on shares of Kinsale Capital Group in a research note on Monday, May 20th. They set a “hold” rating and a $403.00 price target for the company. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $434.00.

About Kinsale Capital Group

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.