Erste Asset Management GmbH Lowers Stake in Kinsale Capital Group, Inc. $KNSL

Erste Asset Management GmbH cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 42,079 shares of the financial services provider’s stock after selling 4,710 shares during the period. Erste Asset Management GmbH’s holdings in Kinsale Capital Group were worth $17,547,000 at the end of the most recent quarter.

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

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $389.80 on Friday. The company has a market capitalization of $9.02 billion, a PE ratio of 17.99, a P/E/G ratio of 1.57 and a beta of 0.99. The company has a 50-day simple moving average of $393.52 and a two-hundred day simple moving average of $411.74. Kinsale Capital Group, Inc. has a one year low of $341.06 and a one year high of $512.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.08.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (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 firm had revenue of $483.27 million for the quarter, compared to the consensus estimate of $467.66 million. During the same quarter in the previous year, the firm earned $4.62 EPS. Research analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group declared that its Board of Directors has authorized a stock buyback program on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows 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.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This is a boost 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 payout ratio is currently 4.61%.

Analyst Ratings Changes

KNSL has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a research report on Friday, February 13th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a report on Wednesday. Truist Financial lowered their price objective on shares of 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. Cantor Fitzgerald cut their target price 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. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research report on Tuesday, December 16th. Four investment 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.