Cubist Systematic Strategies LLC Sells 9,542 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Cubist Systematic Strategies LLC reduced its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 78.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,602 shares of the financial services provider’s stock after selling 9,542 shares during the period. Cubist Systematic Strategies LLC’s holdings in Kinsale Capital Group were worth $665,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of KNSL. Bank of Montreal Can increased its holdings in shares of Kinsale Capital Group by 5.1% during the first quarter. Bank of Montreal Can now owns 1,663 shares of the financial services provider’s stock worth $386,000 after buying an additional 80 shares in the last quarter. Panagora Asset Management Inc. raised its position in Kinsale Capital Group by 119.7% in the first quarter. Panagora Asset Management Inc. now owns 3,219 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,754 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Kinsale Capital Group by 2.5% during the first quarter. Rhumbline Advisers now owns 58,459 shares of the financial services provider’s stock valued at $13,330,000 after purchasing an additional 1,422 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Kinsale Capital Group by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,861 shares of the financial services provider’s stock worth $1,792,000 after purchasing an additional 749 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Kinsale Capital Group by 1.0% in the first quarter. BlackRock Inc. now owns 2,301,709 shares of the financial services provider’s stock valued at $524,835,000 after buying an additional 23,604 shares during the period. 85.97% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $294.19 on Friday. The business has a 50-day moving average price of $292.73 and a two-hundred day moving average price of $285.37. Kinsale Capital Group, Inc. has a 1-year low of $196.00 and a 1-year high of $337.11. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.26. The company has a market cap of $6.80 billion, a P/E ratio of 42.76 and a beta of 0.87.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last issued its earnings results on Friday, February 17th. The financial services provider reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.44. The business had revenue of $242.96 million during the quarter, compared to the consensus estimate of $236.01 million. Kinsale Capital Group had a return on equity of 27.08% and a net margin of 19.42%. During the same period in the previous year, the company posted $1.76 earnings per share. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 9.86 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 13th. Shareholders of record on Tuesday, February 28th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.19%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, February 27th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 8.14%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KNSL shares. Compass Point downgraded shares of Kinsale Capital Group from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $330.00 to $350.00 in a research report on Tuesday, February 21st. Royal Bank of Canada lifted their price target on shares of Kinsale Capital Group from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Truist Financial increased their price objective on Kinsale Capital Group from $335.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Jefferies Financial Group assumed coverage on Kinsale Capital Group in a report on Monday, December 12th. They set a “hold” rating and a $295.00 target price on the stock. Finally, BMO Capital Markets began coverage on Kinsale Capital Group in a research note on Thursday, January 19th. They issued an “underperform” rating and a $230.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus price target of $327.00.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $317.30, for a total value of $1,110,550.00. Following the completion of the sale, the chief executive officer now directly owns 311,189 shares in the company, valued at approximately $98,740,269.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 3,500 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $317.30, for a total transaction of $1,110,550.00. Following the completion of the sale, the chief executive officer now owns 311,189 shares in the company, valued at approximately $98,740,269.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bryan P. Petrucelli sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $322.66, for a total transaction of $3,226,600.00. Following the completion of the transaction, the chief financial officer now directly owns 59,146 shares in the company, valued at $19,084,048.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,180 shares of company stock valued at $6,454,792. Corporate insiders own 6.20% of the company’s stock.

Kinsale Capital Group Company Profile

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Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.