Kinsale Capital Group, Inc. $KNSL Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,077 shares of the financial services provider’s stock after selling 3,961 shares during the period. Principal Financial Group Inc. owned 0.21% of Kinsale Capital Group worth $20,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $125,812,000. Orion Porfolio Solutions LLC lifted its position in Kinsale Capital Group by 1,141.4% in the second quarter. Orion Porfolio Solutions LLC now owns 81,724 shares of the financial services provider’s stock valued at $39,546,000 after acquiring an additional 75,141 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Kinsale Capital Group in the second quarter valued at $32,034,000. Westfield Capital Management Co. LP boosted its stake in Kinsale Capital Group by 127.4% in the second quarter. Westfield Capital Management Co. LP now owns 117,394 shares of the financial services provider’s stock valued at $56,807,000 after acquiring an additional 65,770 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Kinsale Capital Group by 22.8% during the second quarter. American Century Companies Inc. now owns 168,493 shares of the financial services provider’s stock worth $81,537,000 after purchasing an additional 31,250 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of several research reports. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Royal Bank Of Canada initiated coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $476.60.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $414.87 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The firm’s fifty day moving average price is $392.19 and its 200 day moving average price is $418.30. Kinsale Capital Group, Inc. has a 1-year low of $349.00 and a 1-year high of $512.76.

Kinsale Capital Group announced that its Board of Directors has approved a share buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 26th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group’s payout ratio is presently 4.91%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.