Principal Financial Group Inc. Decreases Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Principal Financial Group Inc. decreased its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 91,763 shares of the financial services provider’s stock after selling 12,282 shares during the quarter. Principal Financial Group Inc.’s holdings in Kinsale Capital Group were worth $42,721,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Kinsale Capital Group during the third quarter worth about $26,000. UMB Bank n.a. boosted its holdings in shares of Kinsale Capital Group by 408.3% in the third quarter. UMB Bank n.a. now owns 61 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 49 shares during the period. Signaturefd LLC grew its position in shares of Kinsale Capital Group by 68.9% during the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 42 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Kinsale Capital Group by 225.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 114 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 79 shares during the period. Finally, American National Bank & Trust purchased a new stake in Kinsale Capital Group in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $466.31 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The company has a market cap of $10.86 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The business has a fifty day moving average of $475.83 and a two-hundred day moving average of $449.22.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million for the quarter, compared to the consensus estimate of $359.43 million. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The firm’s revenue was up 33.0% on a year-over-year basis. As a group, analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.13%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s payout ratio is currently 3.42%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KNSL shares. Royal Bank of Canada dropped their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. Morgan Stanley initiated coverage on Kinsale Capital Group in a research report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price target on the stock. Truist Financial reduced their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research note 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 note on Monday, October 28th. Finally, JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $426.00 to $420.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $472.00.

Insider Buying and Selling

In other Kinsale Capital Group news, Director James Joseph Ritchie sold 2,295 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares of the company’s stock, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total transaction of $2,216,936.40. Following the transaction, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,235 shares of company stock valued at $3,618,954. 5.60% of the stock is owned by insiders.

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.