Erste Asset Management GmbH Sells 4,710 Shares of Kinsale Capital Group, Inc. $KNSL

Erste Asset Management GmbH trimmed its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,079 shares of the financial services provider’s stock after selling 4,710 shares during the period. Erste Asset Management GmbH owned 0.18% of Kinsale Capital Group worth $17,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of KNSL. Bamco Inc. NY raised its holdings in Kinsale Capital Group by 1.4% during the second quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock valued at $853,500,000 after acquiring an additional 24,936 shares during the period. Geode Capital Management LLC grew its position in shares of Kinsale Capital Group by 2.1% during the second quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock worth $288,657,000 after purchasing an additional 12,040 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Kinsale Capital Group by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after purchasing an additional 25,428 shares in the last quarter. Riverbridge Partners LLC raised its stake in Kinsale Capital Group by 11.1% during the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after purchasing an additional 29,053 shares during the period. Finally, Norges Bank purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $125,812,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

KNSL stock opened at $389.80 on Friday. The stock has a market cap of $9.02 billion, a PE ratio of 17.99, a P/E/G ratio of 1.57 and a beta of 0.99. Kinsale Capital Group, Inc. has a 12 month low of $341.06 and a 12 month high of $512.76. The company has a 50-day moving average price of $393.52 and a 200 day moving average price of $411.74. The company has a current ratio of 0.08, a quick ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The company had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. During the same period in the prior year, the company posted $4.62 EPS. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group declared that its Board of Directors has approved a stock buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s dividend payout ratio is 4.61%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. 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 target on the stock. Wall Street Zen downgraded shares of Kinsale Capital Group from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $441.91.

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.