Eagle Asset Management Inc. decreased its position in shares of Kinsale Capital Group Inc (NASDAQ:KNSL) by 11.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 166,038 shares of the financial services provider’s stock after selling 21,174 shares during the period. Eagle Asset Management Inc.’s holdings in Kinsale Capital Group were worth $9,108,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. FDx Advisors Inc. purchased a new position in shares of Kinsale Capital Group during the 1st quarter worth approximately $266,000. Deutsche Bank AG grew its holdings in shares of Kinsale Capital Group by 16.4% during the 4th quarter. Deutsche Bank AG now owns 35,173 shares of the financial services provider’s stock worth $1,582,000 after acquiring an additional 4,956 shares during the period. First Mercantile Trust Co. grew its holdings in shares of Kinsale Capital Group by 13.8% during the 2nd quarter. First Mercantile Trust Co. now owns 7,839 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 950 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Kinsale Capital Group during the 1st quarter worth approximately $645,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Kinsale Capital Group by 12.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 86,004 shares of the financial services provider’s stock worth $4,415,000 after acquiring an additional 9,369 shares during the period. Hedge funds and other institutional investors own 84.72% of the company’s stock.
Kinsale Capital Group stock opened at $61.23 on Wednesday. The company has a market capitalization of $1.28 billion, a P/E ratio of 49.06 and a beta of 0.20. Kinsale Capital Group Inc has a twelve month low of $34.70 and a twelve month high of $63.38.
Kinsale Capital Group (NASDAQ:KNSL) last posted its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $54.95 million during the quarter, compared to analysts’ expectations of $53.63 million. Kinsale Capital Group had a return on equity of 12.59% and a net margin of 13.52%. analysts forecast that Kinsale Capital Group Inc will post 1.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. Kinsale Capital Group’s payout ratio is currently 22.40%.
In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 1,000 shares of the stock in a transaction on Monday, July 9th. The stock was sold at an average price of $55.51, for a total transaction of $55,510.00. Following the sale, the director now directly owns 1,111 shares in the company, valued at approximately $61,671.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Robert Lippincott III sold 6,000 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $59.04, for a total value of $354,240.00. Following the sale, the chairman now owns 10,017 shares in the company, valued at $591,403.68. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $1,125,330 in the last 90 days. 8.20% of the stock is currently owned by company insiders.
KNSL has been the topic of a number of research analyst reports. TheStreet upgraded Kinsale Capital Group from a “c” rating to a “b-” rating in a report on Friday, July 27th. ValuEngine upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub downgraded Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. SunTrust Banks restated a “buy” rating and issued a $65.00 price target on shares of Kinsale Capital Group in a research note on Wednesday, August 8th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $61.00 price target on shares of Kinsale Capital Group in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $61.33.
Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.
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