Yousif Capital Management LLC Trims Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Yousif Capital Management LLC cut its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,422 shares of the financial services provider’s stock after selling 131 shares during the quarter. Yousif Capital Management LLC’s holdings in Kinsale Capital Group were worth $3,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cumberland Partners Ltd purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $335,000. South Dakota Investment Council purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $4,579,000. GAMMA Investing LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $59,000. Harbor Advisors LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $268,000. Finally, Significant Wealth Partners LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $362,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total value of $1,048,180.00. Following the transaction, the director now directly owns 887 shares of the company’s stock, valued at $464,867.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of Kinsale Capital Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now directly owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares of the company’s stock, valued at $159,199,255.56. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $374.64 on Friday. The firm’s fifty day simple moving average is $491.62 and its two-hundred day simple moving average is $415.75. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.17. Kinsale Capital Group, Inc. has a 12-month low of $297.33 and a 12-month high of $548.47. The firm has a market capitalization of $8.69 billion, a P/E ratio of 24.89 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 32.92%. The business had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. During the same period in the previous year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. Analysts forecast that Kinsale Capital Group, Inc. will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a $0.15 dividend. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.16%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s payout ratio is currently 3.99%.

Wall Street Analysts Forecast Growth

KNSL has been the topic of several research reports. Truist Financial lifted their price objective on shares of Kinsale Capital Group from $450.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. BMO Capital Markets lowered shares of Kinsale Capital Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $434.00 to $544.00 in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada lifted their price objective on shares of Kinsale Capital Group from $410.00 to $555.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $510.00.

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.