Evermay Wealth Management LLC Trims Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Evermay Wealth Management LLC cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 35.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,124 shares of the financial services provider’s stock after selling 611 shares during the period. Evermay Wealth Management LLC’s holdings in Kinsale Capital Group were worth $523,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KNSL. Headlands Technologies LLC bought a new position in Kinsale Capital Group in the 1st quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Kinsale Capital Group in the third quarter valued at approximately $26,000. UMB Bank n.a. grew 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 in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Kinsale Capital Group by 113.6% in the 2nd quarter. Trust Co. of Vermont now owns 94 shares of the financial services provider’s stock worth $36,000 after buying an additional 50 shares during the period. Finally, Signaturefd LLC increased 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 buying an additional 42 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KNSL. JPMorgan Chase & Co. lowered their price objective on shares of 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. Jefferies Financial Group raised their price objective on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Oppenheimer started coverage on shares of Kinsale Capital Group in a report on Friday, July 12th. They issued a “market perform” rating for the company. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday. Finally, Royal Bank of Canada decreased their price target on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $455.88.

Kinsale Capital Group Stock Up 0.3 %

KNSL stock traded up $1.36 during mid-day trading on Wednesday, reaching $435.22. The company had a trading volume of 8,563 shares, compared to its average volume of 176,614. The firm has a fifty day simple moving average of $466.12 and a 200 day simple moving average of $427.41. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 2.03 and a beta of 1.08. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.13 and a current ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The company had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter last year, the company earned $3.31 earnings per share. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. Analysts forecast that Kinsale Capital Group, Inc. will post 15.05 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is currently 3.99%.

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.