2Xideas AG Sells 4,142 Shares of Kinsale Capital Group, Inc. $KNSL

2Xideas AG trimmed its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 15.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,523 shares of the financial services provider’s stock after selling 4,142 shares during the quarter. Kinsale Capital Group comprises 2.0% of 2Xideas AG’s portfolio, making the stock its 13th biggest holding. 2Xideas AG owned about 0.10% of Kinsale Capital Group worth $9,578,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. grew its stake in shares of Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new stake in Kinsale Capital Group during the 3rd quarter worth about $33,000. Darwin Wealth Management LLC acquired a new position in Kinsale Capital Group during the 2nd quarter valued at about $38,000. VSM Wealth Advisory LLC acquired a new position in Kinsale Capital Group during the 2nd quarter valued at about $39,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Kinsale Capital Group in the 3rd quarter valued at about $40,000. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Kinsale Capital Group in a research note on Tuesday, December 16th. Royal Bank Of Canada started coverage on Kinsale Capital Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $415.00 target price on the stock. Jefferies Financial Group restated a “hold” rating and set a $433.00 target price on shares of Kinsale Capital Group in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $441.91.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $362.76 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $389.19 and its 200 day simple moving average is $406.23. Kinsale Capital Group, Inc. has a 1-year low of $341.06 and a 1-year high of $512.76. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.50 and a beta of 1.01.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. The firm had revenue of $483.27 million for the quarter, compared to analyst estimates of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same quarter in the prior year, the company earned $4.62 earnings per share. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a $0.25 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, February 26th. Kinsale Capital Group’s dividend payout ratio is presently 4.61%.

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

About Kinsale Capital Group

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.