SG Americas Securities LLC reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 33.3% during the 1st quarter, Holdings Channel reports. The fund owned 16,922 shares of the financial services provider’s stock after selling 8,463 shares during the quarter. SG Americas Securities LLC’s holdings in Kinsale Capital Group were worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in KNSL. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $25,000. Bayban acquired a new position in Kinsale Capital Group during the 4th quarter valued at about $25,000. eCIO Inc. acquired a new position in Kinsale Capital Group during the 4th quarter valued at about $29,000. International Assets Investment Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $29,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the period. Institutional investors own 85.36% of the company’s stock.
Kinsale Capital Group Price Performance
NYSE KNSL opened at $327.79 on Monday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76. The business’s fifty day moving average is $315.58 and its two-hundred day moving average is $356.10. The stock has a market capitalization of $7.56 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.
Kinsale Capital Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were given a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Weiss Ratings lowered Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Royal Bank Of Canada lowered their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Cantor Fitzgerald cut their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Finally, Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their target price for the company from $392.00 to $312.00 in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $374.90.
Get Our Latest Stock Report on KNSL
Insider Buying and Selling
In related news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider owned 3,645 shares of the company’s stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by company insiders.
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.
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