Bank of New York Mellon Corp Reduces Position in Kinsale Capital Group, Inc. $KNSL

Bank of New York Mellon Corp lowered its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,136 shares of the financial services provider’s stock after selling 3,600 shares during the period. Bank of New York Mellon Corp’s holdings in Kinsale Capital Group were worth $50,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KNSL. Isthmus Partners LLC purchased a new stake in Kinsale Capital Group in the 4th quarter worth approximately $8,110,000. Life Cycle Investment Partners Ltd purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth about $229,653,000. Tudor Investment Corp ET AL increased its holdings in shares of Kinsale Capital Group by 7,444.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock worth $16,041,000 after buying an additional 37,221 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Kinsale Capital Group by 37.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock valued at $81,382,000 after buying an additional 56,916 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Kinsale Capital Group by 9.6% during the fourth quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider’s stock valued at $22,294,000 after buying an additional 5,000 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

KNSL stock opened at $348.70 on Friday. The company has a market capitalization of $8.04 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The company’s fifty day moving average price is $321.17 and its 200-day moving average price is $349.35. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a return on equity of 25.89% and a net margin of 28.49%.The firm’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.78 earnings per share. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 20.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.05%.

Analysts Set New Price Targets

KNSL has been the subject of several recent analyst reports. 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 note on Thursday, April 9th. Truist Financial cut their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Weiss Ratings cut Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $373.80.

Key Headlines Impacting Kinsale Capital Group

Here are the key news stories impacting Kinsale Capital Group this week:

• Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
• Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
• Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here’s Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
• Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market

Insider Activity

In other news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

About Kinsale Capital Group

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.