Donaldson Capital Management LLC Cuts Stake in Kinsale Capital Group, Inc. $KNSL

Donaldson Capital Management LLC lessened its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 17.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,981 shares of the financial services provider’s stock after selling 1,892 shares during the quarter. Donaldson Capital Management LLC’s holdings in Kinsale Capital Group were worth $3,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KNSL. AQR Capital Management LLC raised its position 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 valued at $397,000 after buying an additional 361 shares during the last quarter. Truist Financial Corp increased its holdings in Kinsale Capital Group by 0.4% in the 2nd quarter. Truist Financial Corp now owns 13,612 shares of the financial services provider’s stock valued at $6,587,000 after acquiring an additional 50 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Kinsale Capital Group in the 2nd quarter worth $218,000. Ascent Group LLC boosted its holdings in shares of Kinsale Capital Group by 22.0% during the 2nd quarter. Ascent Group LLC now owns 12,773 shares of the financial services provider’s stock valued at $6,181,000 after purchasing an additional 2,303 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Kinsale Capital Group by 2.6% during the 2nd quarter. QRG Capital Management Inc. now owns 1,190 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 30 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Kinsale Capital Group Stock Up 0.2%

Shares of KNSL opened at $396.08 on Friday. 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 business has a fifty day moving average of $390.11 and a 200 day moving average of $421.49. The company has a market cap of $9.21 billion, a PE ratio of 19.45, a P/E/G ratio of 1.39 and a beta of 1.00. Kinsale Capital Group, Inc. has a 52-week low of $349.00 and a 52-week high of $512.76.

Kinsale Capital Group declared that its board has approved a share repurchase plan on Thursday, December 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Analyst Ratings Changes

A number of equities research analysts recently commented on KNSL shares. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Wells Fargo & Company started coverage on Kinsale Capital Group in a report on Thursday, January 15th. They set an “overweight” rating and a $490.00 price objective on the stock. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $470.00 to $422.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. TD Cowen decreased their price target on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada assumed coverage on shares of Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $476.60.

About Kinsale Capital Group

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.