Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,763 shares of the financial services provider’s stock after selling 12,282 shares during the quarter. Principal Financial Group Inc. owned approximately 0.39% of Kinsale Capital Group worth $42,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Benjamin Edwards Inc. boosted its holdings in Kinsale Capital Group by 9.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock worth $103,000 after buying an additional 24 shares during the last quarter. Leibman Financial Services Inc. boosted its stake in shares of Kinsale Capital Group by 0.5% in the third quarter. Leibman Financial Services Inc. now owns 4,562 shares of the financial services provider’s stock worth $2,124,000 after acquiring an additional 24 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Kinsale Capital Group by 9.2% during the second quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 28 shares in the last quarter. CWM LLC raised its stake in Kinsale Capital Group by 8.8% in the 3rd quarter. CWM LLC now owns 406 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 33 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Kinsale Capital Group by 5.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 0.3 %

Shares of NYSE:KNSL opened at $466.31 on Monday. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.19 and a beta of 1.13. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The business has a 50-day moving average price of $475.83 and a 200 day moving average price of $449.22. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The business had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period last year, the business earned $3.31 earnings per share. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 15.61 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of Kinsale Capital Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the completion of the transaction, the director now owns 447 shares of the company’s stock, valued at $223,191.57. This trade represents a 90.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,235 shares of company stock worth $3,618,954 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price on the stock. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target for the company in a report on Monday, October 28th. Royal Bank of Canada lowered their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $472.00.

Kinsale Capital Group Profile

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.