Brown Advisory Inc. Reduces Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Brown Advisory Inc. cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 24.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,035 shares of the financial services provider’s stock after selling 339 shares during the period. Brown Advisory Inc.’s holdings in Kinsale Capital Group were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Kinsale Capital Group by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 173,778 shares of the financial services provider’s stock worth $84,580,000 after acquiring an additional 8,372 shares during the period. von Borstel & Associates Inc. purchased a new position in Kinsale Capital Group in the first quarter worth approximately $42,000. OneDigital Investment Advisors LLC grew its position in Kinsale Capital Group by 42.0% in the first quarter. OneDigital Investment Advisors LLC now owns 821 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 243 shares during the period. Moody Aldrich Partners LLC purchased a new position in Kinsale Capital Group in the first quarter worth approximately $270,000. Finally, First Horizon Advisors Inc. grew its position in Kinsale Capital Group by 28.7% in the first quarter. First Horizon Advisors Inc. now owns 260 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 58 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares in the company, valued at $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is currently owned by insiders.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $490.16 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.11 and a current ratio of 0.11. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79. The stock’s 50-day moving average is $469.52 and its two-hundred day moving average is $459.45. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.78 and a beta of 1.19.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The firm had revenue of $423.40 million for the quarter, compared to analyst estimates of $425.73 million. During the same quarter last year, the company posted $3.50 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group’s payout ratio is currently 3.91%.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Bank of America initiated coverage on Kinsale Capital Group in a research note on Friday, June 20th. They set a “buy” rating and a $543.00 price target on the stock. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday, June 22nd. Truist Financial reduced their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley increased their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $491.88.

About Kinsale Capital Group

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.