Tidal Investments LLC Cuts Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Tidal Investments LLC reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 42.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,940 shares of the financial services provider’s stock after selling 2,158 shares during the period. Tidal Investments LLC’s holdings in Kinsale Capital Group were worth $1,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its stake in shares of Kinsale Capital Group by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 149,217 shares of the financial services provider’s stock worth $69,471,000 after purchasing an additional 58,971 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Kinsale Capital Group by 75.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock worth $62,375,000 after buying an additional 57,460 shares in the last quarter. International Assets Investment Management LLC raised its position in Kinsale Capital Group by 76,986.9% in the 3rd quarter. International Assets Investment Management LLC now owns 47,023 shares of the financial services provider’s stock worth $21,892,000 after buying an additional 46,962 shares during the last quarter. Erste Asset Management GmbH bought a new position in Kinsale Capital Group during the 3rd quarter valued at about $18,599,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after acquiring an additional 29,686 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNSL. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Morgan Stanley began coverage on Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price objective for the company. BMO Capital Markets increased their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Finally, Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $472.00.

Kinsale Capital Group Stock Down 5.0 %

NYSE KNSL opened at $466.62 on Thursday. The stock’s 50-day moving average price is $475.85 and its 200-day moving average price is $447.58. The company has a market capitalization of $10.87 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. Kinsale Capital Group, Inc. has a 52 week low of $325.01 and a 52 week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.31 EPS. On average, equities research analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

Insiders Place Their Bets

In related news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the transaction, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of Kinsale Capital Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the sale, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,235 shares of company stock worth $3,618,954. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.