MML Investors Services LLC Reduces Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

MML Investors Services LLC trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,618 shares of the financial services provider’s stock after selling 121 shares during the quarter. MML Investors Services LLC’s holdings in Kinsale Capital Group were worth $1,684,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. ORG Wealth Partners LLC acquired a new position in Kinsale Capital Group in the third quarter valued at approximately $26,000. UMB Bank n.a. raised its holdings in shares of Kinsale Capital Group by 408.3% during the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after buying an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Kinsale Capital Group by 225.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after buying an additional 79 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in shares of Kinsale Capital Group during the third quarter valued at approximately $55,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a report on Monday, October 28th. BMO Capital Markets boosted their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Royal Bank of Canada dropped their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. Jefferies Financial Group boosted their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Truist Financial dropped their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus price target of $472.00.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total value of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock valued at $3,618,954 in the last quarter. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 2.1 %

NYSE KNSL opened at $491.43 on Wednesday. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 2.19 and a beta of 1.13. The firm’s 50 day moving average price is $475.91 and its two-hundred day moving average price is $447.45.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the previous year, the company posted $3.31 EPS. The company’s quarterly revenue was up 33.0% compared to the same quarter last year. Equities analysts anticipate that Kinsale Capital Group, Inc. will post 15.61 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Kinsale Capital Group Company Profile

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.