Natixis Advisors LLC Reduces Position in Kinsale Capital Group, Inc. $KNSL

Natixis Advisors LLC decreased its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 28.2% during the 3rd quarter, Holdings Channel reports. The firm owned 63,653 shares of the financial services provider’s stock after selling 25,028 shares during the period. Natixis Advisors LLC’s holdings in Kinsale Capital Group were worth $27,069,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KNSL. Epoch Investment Partners Inc. raised its holdings in Kinsale Capital Group by 1.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 2,174 shares of the financial services provider’s stock valued at $1,052,000 after buying an additional 23 shares during the last quarter. Vident Advisory LLC grew its holdings in Kinsale Capital Group by 2.9% in the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 23 shares during the last quarter. Portside Wealth Group LLC grew its holdings in Kinsale Capital Group by 1.4% in the 2nd quarter. Portside Wealth Group LLC now owns 1,860 shares of the financial services provider’s stock worth $900,000 after acquiring an additional 25 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 28 shares during the period. Finally, Diversified Trust Co increased its position in shares of Kinsale Capital Group by 0.6% in the third quarter. Diversified Trust Co now owns 4,805 shares of the financial services provider’s stock valued at $2,043,000 after acquiring an additional 31 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in 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 target price for the company. in a report on Wednesday, February 25th. Cantor Fitzgerald reduced their price target on Kinsale Capital Group from $422.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 price target on shares of Kinsale Capital Group in a research report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. cut their price objective on 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 research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $441.91.

Kinsale Capital Group Trading Down 0.7%

NYSE:KNSL opened at $360.07 on Wednesday. The company has a 50-day moving average price of $390.96 and a 200-day moving average price of $407.48. Kinsale Capital Group, Inc. has a 12 month low of $341.06 and a 12 month high of $512.76. 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 market cap of $8.34 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.50 and a beta of 1.01.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the company earned $4.62 earnings per share. Equities analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is presently 4.61%.

Kinsale Capital Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

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.