Salomon & Ludwin LLC Cuts Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Salomon & Ludwin LLC lowered its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 600 shares of the financial services provider’s stock after selling 100 shares during the period. Salomon & Ludwin LLC’s holdings in Kinsale Capital Group were worth $279,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock valued at $246,810,000 after buying an additional 29,686 shares during the period. Avior Wealth Management LLC raised its stake in shares of Kinsale Capital Group by 7,392.9% in the third quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock valued at $488,000 after buying an additional 1,035 shares during the period. Geneva Capital Management LLC raised its stake in shares of Kinsale Capital Group by 1.3% in the third quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after buying an additional 5,207 shares during the period. Swedbank AB raised its stake in shares of Kinsale Capital Group by 5.0% in the third quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after buying an additional 2,010 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Kinsale Capital Group by 75.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after buying an additional 57,460 shares during the period. 85.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on KNSL shares. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research note on Monday, October 28th. Truist Financial decreased their price objective on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley decreased their price objective on Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada decreased their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Finally, BMO Capital Markets boosted their price objective on Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research note on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $460.78.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the sale, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,235 shares of company stock worth $3,618,954. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $449.77 on Friday. Kinsale Capital Group, Inc. has a 52 week low of $355.12 and a 52 week high of $548.47. The business has a 50-day simple moving average of $461.05 and a 200 day simple moving average of $465.71. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.82 and a beta of 1.15.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 15.67 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a $0.17 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is presently 3.42%.

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.