First Trust Advisors LP Reduces Stock Holdings in Kinsale Capital Group, Inc. $KNSL

First Trust Advisors LP reduced its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 59.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,238 shares of the financial services provider’s stock after selling 6,131 shares during the period. First Trust Advisors LP’s holdings in Kinsale Capital Group were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Bayban purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth $25,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter worth $29,000. Johnson Financial Group Inc. boosted its holdings in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 54 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Kinsale Capital Group by 225.0% in the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Activity

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher R. Tangard acquired 330 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was purchased at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $373.12 on Monday. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $8.50 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.18 and a beta of 0.89. The firm’s fifty day moving average price is $332.13 and its 200-day moving average price is $346.85.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.43. The company had revenue of $548.52 million during the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.78 earnings per share. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Royal Bank Of Canada reduced their target price on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $362.11.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.