William Blair Investment Management LLC Sells 9,517 Shares of Kinsale Capital Group, Inc. $KNSL

William Blair Investment Management LLC reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 57.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,144 shares of the financial services provider’s stock after selling 9,517 shares during the quarter. William Blair Investment Management LLC’s holdings in Kinsale Capital Group were worth $3,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cresset Asset Management LLC lifted its stake in Kinsale Capital Group by 145.3% in the second quarter. Cresset Asset Management LLC now owns 5,667 shares of the financial services provider’s stock valued at $2,743,000 after purchasing an additional 3,357 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Kinsale Capital Group by 17.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock worth $9,569,000 after purchasing an additional 3,305 shares during the period. Ascent Group LLC increased its stake in shares of Kinsale Capital Group by 26.4% in the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock worth $6,867,000 after purchasing an additional 3,375 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Kinsale Capital Group by 2.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 164,618 shares of the financial services provider’s stock worth $79,659,000 after purchasing an additional 3,448 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Kinsale Capital Group by 492.8% during the third quarter. SG Americas Securities LLC now owns 14,404 shares of the financial services provider’s stock worth $6,125,000 after acquiring an additional 11,974 shares in the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Down 0.9%

Shares of NYSE:KNSL opened at $392.45 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $393.36 and a two-hundred day simple moving average of $410.51. Kinsale Capital Group, Inc. has a 12-month low of $341.06 and a 12-month high of $512.76. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 1.61 and a beta of 1.01.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same period last year, the company earned $4.62 earnings per share. On average, research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group declared that its board has initiated a stock repurchase 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 repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. 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 currently 4.61%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KNSL. Royal Bank Of Canada initiated coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday. BMO Capital Markets cut shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 target price on the stock. in a report on Wednesday, February 25th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Cantor Fitzgerald decreased their price objective on shares of 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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.