Panagora Asset Management Inc. Sells 8,875 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Panagora Asset Management Inc. decreased its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 18.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 39,306 shares of the financial services provider’s stock after selling 8,875 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kinsale Capital Group were worth $15,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at $151,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at $73,000. Whittier Trust Co. acquired a new stake in shares of Kinsale Capital Group during the second quarter worth $282,000. Evolution Advisers Inc. grew its stake in shares of Kinsale Capital Group by 197.0% during the second quarter. Evolution Advisers Inc. now owns 199 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 132 shares during the period. Finally, McClarren Financial Advisors Inc. grew its stake in shares of Kinsale Capital Group by 19,150.0% during the second quarter. McClarren Financial Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 383 shares during the period. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL stock traded up $5.01 during trading hours on Friday, reaching $491.09. The company’s stock had a trading volume of 110,894 shares, compared to its average volume of 181,391. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.96 and a beta of 1.06. Kinsale Capital Group, Inc. has a fifty-two week low of $325.01 and a fifty-two week high of $548.47. The firm’s 50 day simple moving average is $426.35 and its 200-day simple moving average is $438.09. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.15.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, topping the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a return on equity of 30.33% and a net margin of 26.08%. The firm had revenue of $384.55 million for the quarter, compared to the consensus estimate of $410.20 million. During the same period in the previous year, the business earned $2.88 EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 15.23 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KNSL shares. Truist Financial lifted their price objective on Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. TD Cowen assumed coverage on Kinsale Capital Group in a research note on Monday, May 20th. They issued a “hold” rating and a $403.00 target price for the company. Finally, Oppenheimer assumed coverage on Kinsale Capital Group in a research note on Friday, July 12th. They issued a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $443.38.

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.