Royal London Asset Management Ltd. Sells 48,180 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Royal London Asset Management Ltd. lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 12.3% in the third quarter, HoldingsChannel reports. The fund owned 342,109 shares of the financial services provider’s stock after selling 48,180 shares during the period. Royal London Asset Management Ltd.’s holdings in Kinsale Capital Group were worth $159,276,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Geneva Capital Management LLC raised its stake in 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 purchasing an additional 5,207 shares in the last quarter. Avior Wealth Management LLC raised its stake in 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 purchasing an additional 1,035 shares in the last quarter. Swedbank AB acquired a new position in Kinsale Capital Group in the second quarter valued at about $15,430,000. QRG Capital Management Inc. acquired a new position in Kinsale Capital Group in the second quarter valued at about $503,000. Finally, Bridges Investment Management Inc. acquired a new position in Kinsale Capital Group in the second quarter valued at about $642,000. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Down 0.4 %

Shares of NYSE KNSL opened at $497.79 on Thursday. The company’s 50 day moving average price is $468.76 and its 200-day moving average price is $439.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a 52-week low of $325.01 and a 52-week high of $548.47. The company has a market capitalization of $11.59 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The company had revenue of $418.06 million during the quarter, compared to analysts’ expectations of $359.43 million. During the same period in the prior year, the company posted $3.31 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 33.0% compared to the same quarter last year. Equities analysts forecast that Kinsale Capital Group, Inc. will post 15.52 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on KNSL. BMO Capital Markets boosted their price target 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. JPMorgan Chase & Co. lowered their target price 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. Truist Financial lowered their target price 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. Royal Bank of Canada lowered 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 note on Monday, October 28th. Finally, 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 note on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus target price of $456.88.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the sale, the director now directly owns 447 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group 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.