Kinsale Capital Group, Inc. $KNSL Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,990 shares of the financial services provider’s stock after selling 6,765 shares during the period. Bessemer Group Inc.’s holdings in Kinsale Capital Group were worth $9,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Kinsale Capital Group by 76.2% in the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 361 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after buying an additional 43 shares during the period. Brown Advisory Inc. boosted its position in shares of Kinsale Capital Group by 7.9% in the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after buying an additional 82 shares during the period. Jump Financial LLC grew its stake in shares of Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after buying an additional 634 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after buying an additional 1,566 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank Of Canada dropped their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Truist Financial decreased their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Cantor Fitzgerald lowered their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $375.80.

Kinsale Capital Group Trading Down 0.1%

KNSL opened at $343.49 on Monday. The stock has a market capitalization of $7.92 billion, a PE ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 0.90. The firm’s fifty day moving average price is $317.62 and its 200 day moving average price is $350.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.71 EPS. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is 4.40%.

Insider Transactions at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher R. Tangard acquired 330 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

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.