Alta Capital Management LLC Lowers Stock Position in Kinsale Capital Group, Inc. $KNSL

Alta Capital Management LLC lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 20.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,242 shares of the financial services provider’s stock after selling 7,296 shares during the period. Alta Capital Management LLC’s holdings in Kinsale Capital Group were worth $11,437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $25,000. eCIO Inc. bought a new position in Kinsale Capital Group during the fourth quarter valued at about $29,000. International Assets Investment Management LLC purchased a new stake in Kinsale Capital Group during the fourth quarter worth about $29,000. Johnson Financial Group Inc. raised its position in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the period. Finally, Root Financial Partners LLC bought a new stake in Kinsale Capital Group in the third quarter worth about $33,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $420.00 to $357.00 in a research note on Monday, April 27th. Cantor Fitzgerald dropped their target price on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Royal Bank Of Canada dropped their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Finally, Jefferies Financial Group cut shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $392.00.

Insider Activity at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $325.19 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.50 billion, a PE ratio of 14.31, a P/E/G ratio of 1.01 and a beta of 0.95. Kinsale Capital Group, Inc. has a twelve month low of $293.78 and a twelve month high of $512.76. The company has a 50-day moving average price of $338.93 and a two-hundred day moving average price of $371.87.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $3.71 earnings per share. Equities analysts forecast that Kinsale Capital Group, Inc. will post 20.58 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.

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.