Kinsale Capital Group, Inc. (NYSE:KNSL) Sees Significant Decrease in Short Interest

Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 945,400 shares, a decrease of 6.4% from the February 13th total of 1,010,000 shares. Approximately 4.3% of the company’s stock are short sold. Based on an average daily volume of 164,000 shares, the days-to-cover ratio is currently 5.8 days.

Insider Buying and Selling

In other Kinsale Capital Group news, Director Anne C. Kronenberg sold 930 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $311.40, for a total transaction of $289,602.00. Following the sale, the director now directly owns 9,292 shares of the company’s stock, valued at $2,893,528.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 3,500 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $317.30, for a total transaction of $1,110,550.00. Following the sale, the chief executive officer now directly owns 311,189 shares of the company’s stock, valued at $98,740,269.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne C. Kronenberg sold 930 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $311.40, for a total transaction of $289,602.00. Following the completion of the transaction, the director now directly owns 9,292 shares in the company, valued at $2,893,528.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,180 shares of company stock worth $6,454,792. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Kinsale Capital Group

A number of large investors have recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Kinsale Capital Group by 253.8% in the 3rd quarter. US Bancorp DE now owns 9,231 shares of the financial services provider’s stock valued at $2,358,000 after purchasing an additional 6,622 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Kinsale Capital Group in the 3rd quarter valued at approximately $74,000. Alliancebernstein L.P. raised its holdings in Kinsale Capital Group by 3.1% in the 3rd quarter. Alliancebernstein L.P. now owns 434,677 shares of the financial services provider’s stock valued at $111,025,000 after buying an additional 13,242 shares during the last quarter. AXA S.A. raised its holdings in Kinsale Capital Group by 175.9% in the 3rd quarter. AXA S.A. now owns 33,250 shares of the financial services provider’s stock valued at $8,492,000 after buying an additional 21,200 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Kinsale Capital Group by 21.0% in the 3rd quarter. Park Avenue Securities LLC now owns 3,135 shares of the financial services provider’s stock valued at $801,000 after buying an additional 544 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KNSL. BMO Capital Markets began coverage on shares of Kinsale Capital Group in a research report on Thursday, January 19th. They issued an “underperform” rating and a $230.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Kinsale Capital Group from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. Truist Financial upped their price target on shares of Kinsale Capital Group from $335.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Jefferies Financial Group initiated coverage on shares of Kinsale Capital Group in a research note on Monday, December 12th. They issued a “hold” rating and a $295.00 price target on the stock. Finally, Compass Point downgraded shares of Kinsale Capital Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $330.00 to $350.00 in a research note on Tuesday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $327.00.

Kinsale Capital Group Trading Up 2.5 %

Shares of Kinsale Capital Group stock opened at $295.26 on Wednesday. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 42.92 and a beta of 0.87. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. Kinsale Capital Group has a 12-month low of $196.00 and a 12-month high of $337.11. The firm’s 50-day moving average price is $293.96 and its two-hundred day moving average price is $286.32.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last announced its quarterly earnings data on Friday, February 17th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.44. The firm had revenue of $242.96 million for the quarter, compared to the consensus estimate of $236.01 million. Kinsale Capital Group had a net margin of 19.42% and a return on equity of 27.08%. During the same period in the prior year, the company posted $1.76 earnings per share. On average, analysts forecast that Kinsale Capital Group will post 9.86 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.19%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, February 27th. Kinsale Capital Group’s dividend payout ratio is presently 8.14%.

Kinsale Capital Group Company Profile

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Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.