Jackson Square Partners LLC Reduces Stake in Kinsale Capital Group, Inc. $KNSL

Jackson Square Partners LLC lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 89.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,732 shares of the financial services provider’s stock after selling 47,539 shares during the period. Jackson Square Partners LLC’s holdings in Kinsale Capital Group were worth $2,774,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc increased its stake in Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 41 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Kinsale Capital Group during the 1st quarter worth approximately $31,000. V Square Quantitative Management LLC acquired a new position in shares of Kinsale Capital Group in the 2nd quarter valued at $31,000. Toth Financial Advisory Corp raised its stake in Kinsale Capital Group by 90.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 95 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 45 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Kinsale Capital Group in the first quarter valued at $49,000. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE KNSL opened at $397.53 on Friday. The business has a 50 day moving average price of $435.91 and a 200 day moving average price of $453.94. The company has a market capitalization of $9.25 billion, a P/E ratio of 19.53, a PEG ratio of 1.46 and a beta of 1.09. Kinsale Capital Group, Inc. has a 1-year low of $382.89 and a 1-year high of $531.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share for the quarter, beating the consensus estimate of $4.79 by $0.42. Kinsale Capital Group had a return on equity of 25.66% and a net margin of 26.30%.The company had revenue of $497.51 million for the quarter, compared to analyst estimates of $446.00 million. During the same quarter in the prior year, the company earned $4.20 earnings per share. Kinsale Capital Group’s revenue was up 19.0% compared to the same quarter last year. Sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KNSL shares. Truist Financial boosted 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Kinsale Capital Group in a research note on Wednesday, October 8th. TD Cowen decreased their price objective on Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on shares of Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a “hold” rating in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $495.44.

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.