Franklin Resources Inc. Sells 1,959 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Franklin Resources Inc. reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSLFree Report) by 26.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,373 shares of the financial services provider’s stock after selling 1,959 shares during the quarter. Franklin Resources Inc.’s holdings in Kinsale Capital Group were worth $1,799,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KNSL. Anchor Investment Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at $25,000. Beacon Capital Management LLC bought a new position in Kinsale Capital Group during the fourth quarter worth $33,000. Principal Securities Inc. bought a new position in Kinsale Capital Group during the fourth quarter worth $44,000. Arlington Trust Co LLC bought a new position in Kinsale Capital Group during the fourth quarter worth $54,000. Finally, GAMMA Investing LLC bought a new position in Kinsale Capital Group during the fourth quarter worth $59,000. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KNSL shares. TD Cowen started coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They set a “hold” rating and a $403.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 target price (down previously from $555.00) on shares of Kinsale Capital Group in a report on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets dropped their target price on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Compass Point dropped their target price on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $434.00.

Get Our Latest Stock Report on Kinsale Capital Group

Kinsale Capital Group Stock Up 0.3 %

Shares of NYSE KNSL opened at $384.82 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 25.57 and a beta of 1.07. Kinsale Capital Group, Inc. has a 12 month low of $325.01 and a 12 month high of $548.47. The stock has a 50-day moving average price of $422.39 and a two-hundred day moving average price of $415.25.

Kinsale Capital Group (NYSE:KNSLGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, topping the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. As a group, analysts forecast that Kinsale Capital Group, Inc. will post 14.96 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Friday, May 31st. Kinsale Capital Group’s payout ratio is 3.99%.

Insiders Place Their Bets

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Kinsale Capital Group (NYSE:KNSL)

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