Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,618 shares of the financial services provider’s stock after selling 121 shares during the quarter. MML Investors Services LLC’s holdings in Kinsale Capital Group were worth $1,684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC boosted its position in shares of Kinsale Capital Group by 7,392.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,049 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 1,035 shares in the last quarter. Geneva Capital Management LLC boosted its position in shares of Kinsale Capital Group by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 407,831 shares of the financial services provider’s stock valued at $189,874,000 after purchasing an additional 5,207 shares during the period. Bridges Investment Management Inc. acquired a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at about $642,000. Swedbank AB boosted its position in shares of Kinsale Capital Group by 5.0% in the 3rd quarter. Swedbank AB now owns 42,060 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 2,010 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Kinsale Capital Group by 75.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,975 shares of the financial services provider’s stock valued at $62,375,000 after purchasing an additional 57,460 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $491.43 on Wednesday. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The stock has a 50 day simple moving average of $475.91 and a 200-day simple moving average of $447.45. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The business had revenue of $418.06 million during the quarter, compared to the consensus estimate of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.31 EPS. On average, equities analysts forecast that Kinsale Capital Group, Inc. will post 15.61 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

Insider Buying and Selling

In other news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the sale, the director now owns 447 shares in the company, valued at $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 in the company, valued at $3,672,456.92. This trade represents a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 in the last quarter. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KNSL. Wolfe Research raised Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price for the company in a research report on Monday, October 28th. Royal Bank of Canada decreased their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Truist Financial reduced their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note on Monday, October 28th. BMO Capital Markets upped 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. Finally, JPMorgan Chase & Co. reduced their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has an average rating of “Hold” and a consensus price target of $472.00.

Kinsale Capital Group Company Profile

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.