Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 26,873 shares of the financial services provider’s stock after selling 419 shares during the period. Retirement Systems of Alabama’s holdings in Kinsale Capital Group were worth $12,511,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Kinsale Capital Group by 7,392.9% in the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 1,035 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after acquiring an additional 5,207 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in Kinsale Capital Group in the second quarter valued at approximately $642,000. Finally, Swedbank AB lifted its holdings in Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after acquiring an additional 2,010 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares of the company’s stock, valued at $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,235 shares of company stock worth $3,618,954. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Down 0.0 %

Kinsale Capital Group stock opened at $506.73 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The firm has a market capitalization of $11.80 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.19 and a beta of 1.13. The stock’s fifty day simple moving average is $474.35 and its 200-day simple moving average is $445.87.

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 (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the prior year, the firm 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 expect that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Analysts Set New Price Targets

A number of research firms recently commented on KNSL. BMO Capital Markets upped their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Morgan Stanley started coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price on the stock. 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, October 28th. Jefferies Financial Group boosted their target price 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. Finally, Royal Bank of Canada cut their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $472.00.

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.