Geode Capital Management LLC Sells 8,680 Shares of Kinsale Capital Group, Inc. $KNSL

Geode Capital Management LLC reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 607,419 shares of the financial services provider’s stock after selling 8,680 shares during the period. Geode Capital Management LLC’s holdings in Kinsale Capital Group were worth $239,130,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KNSL. King Luther Capital Management Corp increased its position in shares of Kinsale Capital Group by 7.1% during the fourth quarter. King Luther Capital Management Corp now owns 4,420 shares of the financial services provider’s stock valued at $1,729,000 after purchasing an additional 293 shares during the period. Kestra Investment Management LLC increased its position in shares of Kinsale Capital Group by 15.9% during the fourth quarter. Kestra Investment Management LLC now owns 3,371 shares of the financial services provider’s stock valued at $1,318,000 after purchasing an additional 463 shares during the period. Tandem Investment Advisors Inc. increased its position in shares of Kinsale Capital Group by 14.7% during the fourth quarter. Tandem Investment Advisors Inc. now owns 919 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 118 shares during the period. Summitry LLC increased its position in shares of Kinsale Capital Group by 20.1% during the fourth quarter. Summitry LLC now owns 1,263 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 211 shares during the period. Finally, Clearstead Advisors LLC increased its position in shares of Kinsale Capital Group by 1.6% during the fourth quarter. Clearstead Advisors LLC now owns 4,930 shares of the financial services provider’s stock valued at $1,928,000 after purchasing an additional 78 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of KNSL stock opened at $295.11 on Wednesday. The stock’s fifty day simple moving average is $329.41 and its 200 day simple moving average is $365.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 0.99 and a beta of 0.91. Kinsale Capital Group, Inc. has a one year low of $293.78 and a one year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.71 EPS. On average, analysts expect that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s payout ratio is currently 4.40%.

Analyst Upgrades and Downgrades

KNSL has been the topic of a number of research reports. Royal Bank Of Canada lowered their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. BMO Capital Markets cut Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $392.00 to $312.00 in a research report on Thursday, March 19th. Finally, Morgan Stanley lowered their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $390.18.

Insider Buying and Selling at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.