Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 39.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,191 shares of the financial services provider’s stock after selling 47,565 shares during the quarter. Victory Capital Management Inc. owned approximately 0.32% of Kinsale Capital Group worth $24,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norden Group LLC acquired a new position in shares of Kinsale Capital Group during the 4th quarter worth approximately $212,000. Van ECK Associates Corp lifted its position in shares of Kinsale Capital Group by 46.3% in the fourth quarter. Van ECK Associates Corp now owns 6,754 shares of the financial services provider’s stock valued at $2,262,000 after acquiring an additional 2,136 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Kinsale Capital Group by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 27,571 shares of the financial services provider’s stock valued at $9,234,000 after acquiring an additional 97 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its position in Kinsale Capital Group by 5.9% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 717 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 40 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Kinsale Capital Group by 50.1% in the 4th quarter. Russell Investments Group Ltd. now owns 25,877 shares of the financial services provider’s stock valued at $8,667,000 after purchasing an additional 8,635 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total value of $2,094,920.00. Following the sale, the chief executive officer now directly owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian D. Haney sold 3,778 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at approximately $35,247,879. The disclosure for this sale can be found here. In the last three months, insiders sold 9,778 shares of company stock valued at $4,532,422. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 2.6 %

NYSE KNSL opened at $385.86 on Thursday. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 25.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. Kinsale Capital Group, Inc. has a 12 month low of $297.33 and a 12 month high of $548.47. The company’s fifty day moving average price is $471.28 and its two-hundred day moving average price is $412.39.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. During the same period in the previous year, the business earned $2.44 EPS. The business’s quarterly revenue was up 41.7% on a year-over-year basis. As a group, research analysts predict that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were given a $0.15 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KNSL. JPMorgan Chase & Co. upped their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Truist Financial reduced their target price on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets lowered their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $425.00 price objective (down from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. Finally, Compass Point lowered their target price on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $438.43.

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.