Inspire Investing LLC Sells 1,413 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Inspire Investing LLC cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 24.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,368 shares of the financial services provider’s stock after selling 1,413 shares during the period. Inspire Investing LLC’s holdings in Kinsale Capital Group were worth $2,034,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at approximately $40,000. Goldman Sachs Group Inc. increased its position in Kinsale Capital Group by 5.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 291,339 shares of the financial services provider’s stock valued at $97,572,000 after acquiring an additional 15,718 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of Kinsale Capital Group by 25.6% in the fourth quarter. Congress Asset Management Co. MA now owns 11,433 shares of the financial services provider’s stock valued at $3,829,000 after acquiring an additional 2,331 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kinsale Capital Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,090,492 shares of the financial services provider’s stock worth $700,127,000 after acquiring an additional 30,729 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Kinsale Capital Group by 23.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,131 shares of the financial services provider’s stock worth $1,384,000 after purchasing an additional 781 shares during the period. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Performance

KNSL stock opened at $469.56 on Monday. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The business has a 50-day moving average price of $468.67 and a 200 day moving average price of $428.30. The company has a market capitalization of $10.93 billion, a P/E ratio of 31.20, a PEG ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.75 EPS for the quarter, beating the consensus estimate of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business had revenue of $384.55 million during the quarter, compared to analyst estimates of $410.20 million. During the same quarter in the previous year, the business posted $2.88 EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 15.31 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.60 annualized dividend and a yield of 0.13%. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada upped their price objective on Kinsale Capital Group from $425.00 to $455.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Wolfe Research downgraded Kinsale Capital Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, September 16th. Finally, Truist Financial upped their price target on shares of Kinsale Capital Group from $485.00 to $530.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and an average price target of $446.00.

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.