OLD National Bancorp IN reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 864 shares of the financial services provider’s stock after selling 39 shares during the quarter. OLD National Bancorp IN’s holdings in Kinsale Capital Group were worth $259,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in KNSL. Roble Belko & Company Inc bought a new position in Kinsale Capital Group in the 4th quarter worth about $26,000. First Horizon Advisors Inc. increased its stake in Kinsale Capital Group by 148.8% in the 4th quarter. First Horizon Advisors Inc. now owns 107 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 64 shares during the last quarter. Lazard Asset Management LLC bought a new position in Kinsale Capital Group in the 1st quarter worth about $31,000. Almanack Investment Partners LLC. bought a new position in Kinsale Capital Group in the 3rd quarter worth about $33,000. Finally, CI Investments Inc. increased its stake in Kinsale Capital Group by 141.0% in the 4th quarter. CI Investments Inc. now owns 147 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 86 shares during the last quarter. 86.40% of the stock is currently owned by institutional investors.
Insider Activity at Kinsale Capital Group
In related news, COO Brian D. Haney sold 2,500 shares of the stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $341.63, for a total transaction of $854,075.00. Following the completion of the sale, the chief operating officer now directly owns 72,331 shares in the company, valued at approximately $24,710,439.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 3,500 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $322.69, for a total value of $1,129,415.00. Following the completion of the sale, the chief executive officer now owns 309,689 shares in the company, valued at approximately $99,933,543.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian D. Haney sold 2,500 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $341.63, for a total value of $854,075.00. Following the completion of the sale, the chief operating officer now owns 72,331 shares of the company’s stock, valued at approximately $24,710,439.53. The disclosure for this sale can be found here. Insiders sold 13,000 shares of company stock worth $4,428,670 in the last ninety days. 6.00% of the stock is owned by company insiders.
Kinsale Capital Group Price Performance
Kinsale Capital Group (NYSE:KNSL – Free Report) last issued its earnings results on Friday, April 28th. The financial services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.20. The company had revenue of $299.03 million during the quarter, compared to analysts’ expectations of $252.84 million. Kinsale Capital Group had a return on equity of 28.34% and a net margin of 20.44%. Kinsale Capital Group’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Sell-side analysts forecast that Kinsale Capital Group, Inc. will post 10.62 EPS for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.15%. The ex-dividend date was Tuesday, May 30th. Kinsale Capital Group’s dividend payout ratio is presently 7.09%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. BMO Capital Markets upgraded Kinsale Capital Group from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $270.00 to $389.00 in a research note on Friday, June 2nd. Jefferies Financial Group increased their price objective on Kinsale Capital Group from $313.00 to $315.00 and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, StockNews.com initiated coverage on Kinsale Capital Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three 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 presently has an average rating of “Moderate Buy” and a consensus target price of $362.80.
Kinsale Capital Group Company Profile
Kinsale Capital Group, Inc, a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance.
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