Kinsale Capital Group, Inc. (NYSE:KNSL) Sees Significant Decrease in Short Interest

Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 945,400 shares, a decrease of 6.4% from the February 13th total of 1,010,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 164,000 shares, the days-to-cover ratio is presently 5.8 days.

Insiders Place Their Bets

In other news, Director Anne C. Kronenberg sold 930 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $311.40, for a total value of $289,602.00. Following the sale, the director now directly owns 9,292 shares of the company’s stock, valued at $2,893,528.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kinsale Capital Group news, Director Anne C. Kronenberg sold 930 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $311.40, for a total value of $289,602.00. Following the transaction, the director now directly owns 9,292 shares of the company’s stock, valued at $2,893,528.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian D. Haney sold 5,750 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $317.92, for a total value of $1,828,040.00. Following the completion of the transaction, the chief operating officer now directly owns 74,831 shares in the company, valued at approximately $23,790,271.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,180 shares of company stock worth $6,454,792. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kinsale Capital Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Wipfli Financial Advisors LLC bought a new stake in Kinsale Capital Group during the 3rd quarter valued at $25,000. Roble Belko & Company Inc bought a new position in shares of Kinsale Capital Group in the 4th quarter worth $26,000. First Horizon Advisors Inc. raised its position in shares of Kinsale Capital Group by 148.8% in the 4th quarter. First Horizon Advisors Inc. now owns 107 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 64 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Kinsale Capital Group in the 1st quarter worth $31,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of Kinsale Capital Group in the 3rd quarter worth $33,000. 85.97% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

KNSL opened at $295.26 on Wednesday. The business has a fifty day moving average of $293.96 and a 200 day moving average of $286.32. Kinsale Capital Group has a 52-week low of $196.00 and a 52-week high of $337.11. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. The stock has a market cap of $6.82 billion, a P/E ratio of 42.92 and a beta of 0.87.

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

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Tuesday, February 28th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 0.19%. Kinsale Capital Group’s payout ratio is 8.14%.

Analyst Upgrades and Downgrades

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

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.