Copeland Capital Management LLC Reduces Stock Position in Kinsale Capital Group, Inc. $KNSL

Copeland Capital Management LLC lessened its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.8% during the first quarter, Holdings Channel.com reports. The fund owned 111,089 shares of the financial services provider’s stock after selling 22,406 shares during the period. Copeland Capital Management LLC’s holdings in Kinsale Capital Group were worth $37,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 361 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 43 shares during the last quarter. Brown Advisory Inc. increased its holdings in Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 82 shares during the period. Jump Financial LLC increased its holdings in Kinsale Capital Group by 136.9% during the 2nd quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 634 shares during the period. Finally, Cerity Partners LLC raised its position in Kinsale Capital Group by 45.3% during the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock valued at $2,430,000 after purchasing an additional 1,566 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on KNSL. Truist Financial dropped their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Wells Fargo & Company upped their target price on Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Royal Bank Of Canada dropped their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Morgan Stanley cut their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $375.80.

Insider Buying and Selling

In related news, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the sale, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by company insiders.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $343.49 on Friday. The stock’s 50 day simple moving average is $317.62 and its two-hundred day simple moving average is $351.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.08 and a beta of 0.90. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same quarter in the prior year, the business earned $3.71 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts expect that Kinsale Capital Group, Inc. will post 20.71 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s payout ratio is presently 4.40%.

Kinsale Capital Group Company 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.