Two Sigma Securities LLC Lowers Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Two Sigma Securities LLC lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 74.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 617 shares of the financial services provider’s stock after selling 1,774 shares during the quarter. Two Sigma Securities LLC’s holdings in Kinsale Capital Group were worth $203,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bamco Inc. NY acquired a new position in Kinsale Capital Group in the second quarter valued at $878,600,000. BlackRock Inc. acquired a new stake in Kinsale Capital Group in the 2nd quarter worth about $671,457,000. Life Cycle Investment Partners Ltd purchased a new stake in Kinsale Capital Group in the 4th quarter valued at about $229,653,000. Capital World Investors grew its holdings in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares during the period. Finally, Norges Bank acquired a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $107,916,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KNSL. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Morgan Stanley lifted their price target on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. 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. Wells Fargo & Company upped 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. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $368.78.

Insider Transactions at Kinsale Capital Group

In other news, CAO Christopher Tangard acquired 330 shares of the stock in a transaction on Monday, June 8th. The stock was bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $372.86 on Friday. The firm has a fifty day moving average of $361.07 and a 200-day moving average of $344.36. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $8.49 billion, a P/E ratio of 15.11, a PEG ratio of 1.18 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same quarter in the previous year, the business posted $4.78 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, analysts predict that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.

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.