Legal & General Group Plc Sells 1,893 Shares of Kinsale Capital Group, Inc. $KNSL

Legal & General Group Plc lessened its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,240 shares of the financial services provider’s stock after selling 1,893 shares during the period. Legal & General Group Plc owned 0.14% of Kinsale Capital Group worth $13,001,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KNSL. AQR Capital Management LLC increased its stake in shares of Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after buying an additional 361 shares during the period. EverSource Wealth Advisors LLC boosted its position in Kinsale Capital Group by 72.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Brown Advisory Inc. boosted its position in Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after buying an additional 82 shares during the period. Jump Financial LLC grew its holdings in Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 634 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock worth $2,430,000 after acquiring an additional 1,566 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $295.11 on Wednesday. The business’s fifty day moving average is $329.41 and its 200 day moving average is $365.89. Kinsale Capital Group, Inc. has a 12-month low of $293.78 and a 12-month high of $512.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.81 billion, a P/E ratio of 12.99, a P/E/G ratio of 0.99 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same quarter in the prior year, the company posted $3.71 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date 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 is presently 4.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KNSL. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. BMO Capital Markets lowered Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price for the company. in a research report on Wednesday, February 25th. Finally, Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $390.18.

Kinsale Capital Group 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.