Principal Securities Inc. Sells 62 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Principal Securities Inc. cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160 shares of the financial services provider’s stock after selling 62 shares during the quarter. Principal Securities Inc.’s holdings in Kinsale Capital Group were worth $74,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Congress Asset Management Co. increased its stake in shares of Kinsale Capital Group by 8.0% in the fourth quarter. Congress Asset Management Co. now owns 50,849 shares of the financial services provider’s stock worth $23,652,000 after buying an additional 3,783 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in Kinsale Capital Group by 2.5% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 1,595 shares of the financial services provider’s stock valued at $742,000 after acquiring an additional 39 shares in the last quarter. Rhumbline Advisers boosted its holdings in Kinsale Capital Group by 0.4% in the fourth quarter. Rhumbline Advisers now owns 67,092 shares of the financial services provider’s stock valued at $31,206,000 after acquiring an additional 293 shares in the last quarter. Arcus Capital Partners LLC boosted its holdings in Kinsale Capital Group by 18.0% in the fourth quarter. Arcus Capital Partners LLC now owns 3,898 shares of the financial services provider’s stock valued at $1,813,000 after acquiring an additional 596 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Kinsale Capital Group by 36.2% in the fourth quarter. Van ECK Associates Corp now owns 21,983 shares of the financial services provider’s stock valued at $10,225,000 after acquiring an additional 5,839 shares in the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Morgan Stanley dropped their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, February 18th. Truist Financial boosted their target price on Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $468.56.

Kinsale Capital Group Stock Performance

KNSL stock opened at $417.31 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50-day moving average price of $448.75 and a 200 day moving average price of $464.58. The company has a market capitalization of $9.72 billion, a P/E ratio of 23.46, a PEG ratio of 1.66 and a beta of 1.16. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, February 13th. The financial services provider reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The business had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a $0.17 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 0.16%. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares of the company’s stock, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

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.