Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,181 shares of the financial services provider’s stock after selling 1,073 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kinsale Capital Group were worth $1,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Harbor Capital Advisors Inc. increased its position in shares of Kinsale Capital Group by 249.2% in the second quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock worth $2,061,000 after acquiring an additional 3,818 shares in the last quarter. Geneva Capital Management LLC raised its stake in Kinsale Capital Group by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the period. Swedbank AB purchased a new stake in shares of Kinsale Capital Group in the second quarter valued at $15,430,000. QRG Capital Management Inc. acquired a new stake in shares of Kinsale Capital Group in the second quarter worth $503,000. Finally, Bridges Investment Management Inc. purchased a new position in shares of Kinsale Capital Group during the second quarter valued at $642,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

KNSL stock opened at $512.04 on Wednesday. The firm has a 50 day moving average of $462.44 and a two-hundred day moving average of $434.56. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the company posted $3.31 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. 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 firm’s stock in a transaction 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 transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KNSL shares. JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a report on Thursday, November 21st. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday, October 28th. Royal Bank of Canada cut their target price 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. Finally, Jefferies Financial Group boosted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Hold” and a consensus target price of $456.88.

Kinsale Capital Group Profile

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.