Independent Advisor Alliance Sells 27 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Independent Advisor Alliance cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,063 shares of the financial services provider’s stock after selling 27 shares during the quarter. Independent Advisor Alliance’s holdings in Kinsale Capital Group were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Kinsale Capital Group in the third quarter worth approximately $26,000. UMB Bank n.a. increased its stake in Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 49 shares during the period. Trust Co. of Vermont lifted its position in shares of Kinsale Capital Group by 113.6% during the second quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 50 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Kinsale Capital Group by 225.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 79 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $515.45 on Friday. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The company has a market capitalization of $12.00 billion, a PE ratio of 29.39, a P/E/G ratio of 2.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. The company has a 50-day simple moving average of $464.91 and a two-hundred day simple moving average of $435.68.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. The firm had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Kinsale Capital Group’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.31 EPS. Research analysts expect that Kinsale Capital Group, Inc. will post 15.67 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. Kinsale Capital Group’s payout ratio is 3.42%.

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KNSL. Royal Bank of Canada lowered their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. BMO Capital Markets increased their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Truist Financial lowered their target price on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $456.88.

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.