Natixis Advisors LLC Trims Stake in Kinsale Capital Group, Inc. $KNSL

Natixis Advisors LLC reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 28.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,653 shares of the financial services provider’s stock after selling 25,028 shares during the quarter. Natixis Advisors LLC owned 0.27% of Kinsale Capital Group worth $27,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in Kinsale Capital Group during the third quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new position in Kinsale Capital Group in the 2nd quarter worth approximately $38,000. VSM Wealth Advisory LLC bought a new position in shares of Kinsale Capital Group in the 2nd quarter worth $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter worth $40,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $360.07 on Wednesday. Kinsale Capital Group, Inc. has a 52-week low of $341.06 and a 52-week high of $512.76. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The company has a fifty day moving average of $390.96 and a 200-day moving average of $407.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.08 and a current ratio of 0.08.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, February 12th. The financial services provider reported $5.81 EPS 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 analysts’ expectations of $467.66 million. During the same quarter last year, the company earned $4.62 EPS. Equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be paid a $0.25 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.17. 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%. Kinsale Capital Group’s dividend payout ratio is presently 4.61%.

Kinsale Capital Group declared that its board has initiated a stock repurchase program on Thursday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on KNSL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Wells Fargo & Company began coverage on Kinsale Capital Group in a research report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price target on the stock. Truist Financial dropped their price target on Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price objective on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $441.91.

Kinsale Capital Group Company 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.