Intech Investment Management LLC Sells 2,102 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Intech Investment Management LLC reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 38.8% during the 1st quarter, Holdings Channel reports. The fund owned 3,322 shares of the financial services provider’s stock after selling 2,102 shares during the period. Intech Investment Management LLC’s holdings in Kinsale Capital Group were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Raymond James Trust N.A. grew its position in shares of Kinsale Capital Group by 30.5% during the 4th quarter. Raymond James Trust N.A. now owns 667 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 156 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Kinsale Capital Group by 29.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,041 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 911 shares in the last quarter. Financial Enhancement Group LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $790,000. Copeland Capital Management LLC grew its position in shares of Kinsale Capital Group by 4.6% during the 4th quarter. Copeland Capital Management LLC now owns 201,138 shares of the financial services provider’s stock worth $67,363,000 after purchasing an additional 8,803 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. grew its position in shares of Kinsale Capital Group by 1.1% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 2,655 shares of the financial services provider’s stock worth $889,000 after purchasing an additional 30 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on KNSL. TD Cowen began coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 target price on the stock. BMO Capital Markets decreased their target price on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Oppenheimer assumed coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $434.00.

Insider Activity at Kinsale Capital Group

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

Kinsale Capital Group Price Performance

NYSE:KNSL traded down $18.31 on Friday, hitting $370.41. The company had a trading volume of 254,565 shares, compared to its average volume of 143,066. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.65 and a beta of 1.06. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $385.81 and a two-hundred day moving average of $424.93. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. The business had revenue of $372.79 million during the quarter, compared to the consensus estimate 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 revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. On average, research analysts anticipate that Kinsale Capital Group, Inc. will post 14.98 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

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.