Thrivent Financial for Lutherans Decreases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Thrivent Financial for Lutherans cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 44.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,092 shares of the financial services provider’s stock after selling 226,085 shares during the period. Thrivent Financial for Lutherans owned approximately 1.22% of Kinsale Capital Group worth $137,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Epoch Investment Partners Inc. grew its holdings in shares of Kinsale Capital Group by 1.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock worth $1,052,000 after acquiring an additional 23 shares during the period. Vident Advisory LLC boosted its position in Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares in the last quarter. UMB Bank n.a. grew its holdings in Kinsale Capital Group by 11.3% in the second quarter. UMB Bank n.a. now owns 237 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 24 shares during the last quarter. Total Clarity Wealth Management Inc. increased its position in shares of Kinsale Capital Group by 3.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 716 shares of the financial services provider’s stock valued at $346,000 after buying an additional 25 shares in the last quarter. Finally, Portside Wealth Group LLC raised its stake in shares of Kinsale Capital Group by 1.4% during the 2nd quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock worth $900,000 after buying an additional 25 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $390.91 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $9.09 billion, a PE ratio of 19.20, a P/E/G ratio of 1.40 and a beta of 0.96. The firm has a 50 day simple moving average of $408.53 and a 200-day simple moving average of $440.58. Kinsale Capital Group, Inc. has a 1-year low of $349.00 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.79 by $0.42. The firm had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. Kinsale Capital Group’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.20 earnings per share. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group declared that its board has authorized a stock buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 28th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s payout ratio is currently 3.34%.

Analyst Ratings Changes

Several equities research analysts recently commented on KNSL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 8th. Royal Bank Of Canada assumed coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, TD Cowen lowered their target price on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $483.78.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.