American International Group Inc. Decreases Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

American International Group Inc. reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,323 shares of the financial services provider’s stock after selling 602 shares during the period. American International Group Inc. owned 0.13% of Kinsale Capital Group worth $15,387,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at approximately $301,000. Champlain Investment Partners LLC raised its position in Kinsale Capital Group by 58.9% during the first quarter. Champlain Investment Partners LLC now owns 243,474 shares of the financial services provider’s stock valued at $127,761,000 after purchasing an additional 90,209 shares during the period. Bahl & Gaynor Inc. raised its position in Kinsale Capital Group by 1.0% during the first quarter. Bahl & Gaynor Inc. now owns 11,757 shares of the financial services provider’s stock valued at $6,169,000 after purchasing an additional 120 shares during the period. Cynosure Group LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at approximately $652,000. Finally, Nicolet Advisory Services LLC raised its position in Kinsale Capital Group by 43.4% during the first quarter. Nicolet Advisory Services LLC now owns 1,054 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 319 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Oppenheimer began coverage on Kinsale Capital Group in a research note on Friday, July 12th. They set a “market perform” rating on the stock. Compass Point cut their target price on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, BMO Capital Markets cut their target price on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $434.00.

Kinsale Capital Group Stock Up 2.9 %

NYSE KNSL traded up $10.77 during midday trading on Thursday, hitting $382.92. 75,063 shares of the company traded hands, compared to its average volume of 183,529. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $8.91 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. The company’s 50-day simple moving average is $385.49 and its 200-day simple moving average is $425.31. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business had revenue of $372.79 million for the quarter, compared to analysts’ expectations of $366.45 million. During the same quarter last year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 14.98 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. Kinsale Capital Group’s dividend payout ratio is presently 3.99%.

Insider Activity

In other news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the sale, the chief operating officer now owns 95,850 shares in the company, valued at approximately $35,247,879. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company 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.