Wellington Management Group LLP decreased its position in Kinsale Capital Group Inc (NASDAQ:KNSL) by 43.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,390 shares of the financial services provider’s stock after selling 2,614 shares during the period. Wellington Management Group LLP’s holdings in Kinsale Capital Group were worth $354,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Kinsale Capital Group by 39.6% during the 1st quarter. BlackRock Inc. now owns 2,990,268 shares of the financial services provider’s stock worth $312,575,000 after purchasing an additional 848,454 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $22,986,000. Bank of New York Mellon Corp increased its stake in shares of Kinsale Capital Group by 166.9% during the 4th quarter. Bank of New York Mellon Corp now owns 347,635 shares of the financial services provider’s stock worth $35,339,000 after purchasing an additional 217,365 shares during the last quarter. Bamco Inc. NY increased its stake in shares of Kinsale Capital Group by 11.4% during the 4th quarter. Bamco Inc. NY now owns 1,773,410 shares of the financial services provider’s stock worth $180,285,000 after purchasing an additional 181,764 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Kinsale Capital Group by 1,126.3% during the 1st quarter. Victory Capital Management Inc. now owns 156,270 shares of the financial services provider’s stock worth $16,335,000 after purchasing an additional 143,527 shares during the last quarter. Hedge funds and other institutional investors own 86.73% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Kinsale Capital Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 8th. William Blair raised shares of Kinsale Capital Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Zacks Investment Research raised shares of Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Tuesday, June 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $125.00 price objective (down from $134.00) on shares of Kinsale Capital Group in a report on Wednesday, April 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $137.00.
In other news, EVP Ann Marie Marson sold 35,178 shares of Kinsale Capital Group stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $150.15, for a total transaction of $5,281,976.70. Following the completion of the sale, the executive vice president now directly owns 78,052 shares of the company’s stock, valued at approximately $11,719,507.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Joseph Ritchie sold 4,000 shares of Kinsale Capital Group stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $150.02, for a total transaction of $600,080.00. Following the sale, the director now directly owns 25,264 shares of the company’s stock, valued at $3,790,105.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,940 shares of company stock valued at $6,150,668. Insiders own 7.30% of the company’s stock.
Shares of NASDAQ:KNSL opened at $151.77 on Wednesday. The firm has a fifty day moving average price of $148.54 and a two-hundred day moving average price of $120.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.14 and a quick ratio of 0.14. Kinsale Capital Group Inc has a one year low of $80.93 and a one year high of $160.76. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 68.37 and a beta of 0.59.
Kinsale Capital Group (NASDAQ:KNSL) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.12. Kinsale Capital Group had a net margin of 15.33% and a return on equity of 15.05%. The firm had revenue of $108.00 million during the quarter, compared to the consensus estimate of $93.35 million. Kinsale Capital Group’s revenue was up 47.7% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group Inc will post 2.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Tuesday, June 2nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Monday, June 1st. Kinsale Capital Group’s payout ratio is 14.94%.
Kinsale Capital Group Profile
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.
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