Sei Investments Co. Sells 16,171 Shares of Kinsale Capital Group, Inc. $KNSL

Sei Investments Co. cut its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 24.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 51,189 shares of the financial services provider’s stock after selling 16,171 shares during the quarter. Sei Investments Co.’s holdings in Kinsale Capital Group were worth $17,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd bought a new position in Kinsale Capital Group in the 4th quarter worth about $229,653,000. Capital World Investors grew its position in Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after acquiring an additional 533,499 shares in the last quarter. Norges Bank purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth about $107,916,000. First Manhattan CO. LLC. boosted its stake in Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after buying an additional 100,600 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Kinsale Capital Group by 2,621.6% in the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock worth $35,638,000 after buying an additional 87,770 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $362.11.

Insider Transactions at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. This represents a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $376.57 on Thursday. The company has a 50 day simple moving average of $324.31 and a two-hundred day simple moving average of $348.29. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $485.00. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million for the quarter, compared to the consensus estimate of $445.13 million. During the same quarter in the prior year, the business posted $4.78 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts expect that Kinsale Capital Group, Inc. will post 21.11 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced 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 yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s payout ratio is 4.05%.

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.