Swedbank AB Sells 16,000 Shares of Kinsale Capital Group, Inc. $KNSL

Swedbank AB trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 24.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 49,053 shares of the financial services provider’s stock after selling 16,000 shares during the period. Swedbank AB’s holdings in Kinsale Capital Group were worth $16,759,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Intrinsic Value Partners LLC increased its position in shares of Kinsale Capital Group by 28.1% in the first quarter. Intrinsic Value Partners LLC now owns 7,291 shares of the financial services provider’s stock valued at $2,491,000 after acquiring an additional 1,600 shares during the last quarter. Hendershot Investments Inc. boosted its position in Kinsale Capital Group by 6.7% during the first quarter. Hendershot Investments Inc. now owns 22,983 shares of the financial services provider’s stock valued at $7,852,000 after purchasing an additional 1,450 shares during the last quarter. Canal Capital Management LLC grew its stake in Kinsale Capital Group by 9.8% in the first quarter. Canal Capital Management LLC now owns 12,270 shares of the financial services provider’s stock valued at $4,192,000 after purchasing an additional 1,096 shares in the last quarter. Leonteq Securities AG grew its stake in Kinsale Capital Group by 5.3% in the first quarter. Leonteq Securities AG now owns 1,347 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 68 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Kinsale Capital Group in the first quarter valued at approximately $344,000. Institutional investors own 85.36% of the company’s stock.

Insider Activity

In related news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

KNSL opened at $338.52 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The business has a 50 day moving average of $314.71 and a 200-day moving average of $353.43. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.12 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last posted 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. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period in the previous year, the firm earned $3.71 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Morgan Stanley dropped their price target on shares of 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. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, 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 research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $375.80.

About Kinsale Capital Group

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.