Harbor Capital Advisors Inc. Decreases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Harbor Capital Advisors Inc. trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 77.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 957 shares of the financial services provider’s stock after selling 3,251 shares during the period. Harbor Capital Advisors Inc.’s holdings in Kinsale Capital Group were worth $407,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group in the second quarter worth about $31,000. Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group in the 2nd quarter worth approximately $38,000. VSM Wealth Advisory LLC bought a new stake in shares of Kinsale Capital Group in the 2nd quarter worth approximately $39,000. Toth Financial Advisory Corp increased its stake in shares of Kinsale Capital Group by 90.0% during the second quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock valued at $46,000 after buying an additional 45 shares during the period. Finally, Ancora Advisors LLC purchased a new position in shares of Kinsale Capital Group during the first quarter valued at approximately $49,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Down 0.8%

NYSE:KNSL opened at $393.66 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day moving average price is $393.83 and its 200-day moving average price is $435.07. The company has a market capitalization of $9.16 billion, a PE ratio of 19.33, a P/E/G ratio of 1.41 and a beta of 0.96. Kinsale Capital Group, Inc. has a 1-year low of $349.00 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $5.21 EPS for the quarter, topping the consensus estimate of $4.79 by $0.42. The business had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. Kinsale Capital Group’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.20 earnings per share. On average, equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group announced that its board has approved a stock buyback program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were paid a $0.17 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KNSL. TD Cowen dropped their price target on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley restated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada started coverage on shares of Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective for the company. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and an average price target of $483.78.

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.