Kinsale Capital Group, Inc. (NYSE:KNSL) Stock Holdings Cut by Arcus Capital Partners LLC

Arcus Capital Partners LLC trimmed its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 16.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,302 shares of the financial services provider’s stock after selling 662 shares during the period. Arcus Capital Partners LLC’s holdings in Kinsale Capital Group were worth $1,537,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Harbor Capital Advisors Inc. raised its stake in Kinsale Capital Group by 249.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,350 shares of the financial services provider’s stock valued at $2,061,000 after purchasing an additional 3,818 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Kinsale Capital Group by 44.3% during the first quarter. Russell Investments Group Ltd. now owns 37,328 shares of the financial services provider’s stock worth $19,588,000 after buying an additional 11,451 shares during the last quarter. Swedbank AB bought a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $15,430,000. QRG Capital Management Inc. acquired a new stake in shares of Kinsale Capital Group in the second quarter valued at approximately $503,000. Finally, Bridges Investment Management Inc. bought a new position in shares of Kinsale Capital Group in the 2nd quarter valued at about $642,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 4.6 %

Shares of Kinsale Capital Group stock opened at $477.19 on Tuesday. Kinsale Capital Group, Inc. has a twelve month low of $325.01 and a twelve month high of $548.47. The firm has a market capitalization of $11.11 billion, a PE ratio of 27.21, a P/E/G ratio of 1.97 and a beta of 1.09. The firm’s 50-day moving average price is $458.10 and its 200 day moving average price is $426.54. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.13.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. During the same quarter last year, the company earned $3.31 EPS. Kinsale Capital Group’s revenue for the quarter was up 33.0% compared to the same quarter last year. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.52 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Thursday, August 29th. Kinsale Capital Group’s dividend payout ratio is currently 3.42%.

Analyst Ratings Changes

Several brokerages have commented on KNSL. Jefferies Financial Group boosted their target price on Kinsale Capital Group from $444.00 to $471.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a report on Monday, October 28th. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Finally, Truist Financial lowered their price target on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $455.88.

Kinsale Capital Group 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.