Copeland Capital Management LLC Sells 30,167 Shares of Kinsale Capital Group, Inc. $KNSL

Copeland Capital Management LLC reduced its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 13.6% during the 2nd quarter, Holdings Channel reports. The fund owned 192,073 shares of the financial services provider’s stock after selling 30,167 shares during the quarter. Kinsale Capital Group makes up approximately 1.9% of Copeland Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Copeland Capital Management LLC’s holdings in Kinsale Capital Group were worth $92,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. DAVENPORT & Co LLC raised its stake in shares of Kinsale Capital Group by 6.2% in the first quarter. DAVENPORT & Co LLC now owns 543,349 shares of the financial services provider’s stock valued at $263,233,000 after acquiring an additional 31,480 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Kinsale Capital Group by 39.8% in the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider’s stock valued at $224,204,000 after buying an additional 131,056 shares during the last quarter. Geneva Capital Management LLC increased its holdings in Kinsale Capital Group by 0.6% in the first quarter. Geneva Capital Management LLC now owns 405,363 shares of the financial services provider’s stock valued at $197,294,000 after buying an additional 2,449 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Kinsale Capital Group in the first quarter valued at $125,003,000. Finally, Dimensional Fund Advisors LP increased its holdings in Kinsale Capital Group by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 225,186 shares of the financial services provider’s stock valued at $109,589,000 after buying an additional 26,282 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on KNSL shares. JPMorgan Chase & Co. increased their target price on Kinsale Capital Group from $440.00 to $460.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Cantor Fitzgerald raised Kinsale Capital Group to a “hold” rating in a report on Wednesday, August 13th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Sunday, June 22nd. Bank of America started coverage on Kinsale Capital Group in a report on Friday, June 20th. They issued a “buy” rating and a $543.00 target price on the stock. Finally, Truist Financial increased their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $505.80.

Kinsale Capital Group Stock Performance

Shares of KNSL stock opened at $442.22 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $405.00 and a 1 year high of $531.79. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.53 and a beta of 1.09. The stock’s 50-day moving average is $443.03 and its two-hundred day moving average is $460.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same quarter in the prior year, the firm earned $3.75 earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio is 3.55%.

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.