Renaissance Group LLC Sells 2,559 Shares of Kinsale Capital Group, Inc. $KNSL

Renaissance Group LLC lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.9% during the 4th quarter, Holdings Channel reports. The firm owned 17,257 shares of the financial services provider’s stock after selling 2,559 shares during the period. Renaissance Group LLC’s holdings in Kinsale Capital Group were worth $6,750,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Illinois Municipal Retirement Fund boosted its stake in shares of Kinsale Capital Group by 72.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 5,241 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 2,196 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Kinsale Capital Group by 3.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the financial services provider’s stock valued at $11,005,000 after purchasing an additional 839 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at about $109,000. Fox Run Management L.L.C. boosted its stake in shares of Kinsale Capital Group by 6.2% in the 4th quarter. Fox Run Management L.L.C. now owns 2,275 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 132 shares during the last quarter. Finally, Erste Asset Management GmbH boosted its stake in shares of Kinsale Capital Group by 44.7% in the 4th quarter. Erste Asset Management GmbH now owns 60,893 shares of the financial services provider’s stock valued at $23,854,000 after purchasing an additional 18,814 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KNSL. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Royal Bank Of Canada reduced their price objective 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. Cantor Fitzgerald decreased their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Wells Fargo & Company downgraded shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $420.00 to $357.00 in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $390.18.

Insider Activity at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the firm’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 transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher R. Tangard acquired 330 shares of Kinsale Capital Group stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $314.09 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $7.24 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. The company’s 50 day moving average price is $325.27 and its two-hundred day moving average price is $361.59. Kinsale Capital Group, Inc. has a 52 week low of $287.20 and a 52 week high of $512.76.

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

Kinsale Capital Group Dividend Announcement

The company also recently announced 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 dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 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.