EAM Investors LLC cut its stake in Kinsale Capital Group Inc (NASDAQ:KNSL) by 25.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,526 shares of the financial services provider’s stock after selling 5,623 shares during the quarter. EAM Investors LLC’s holdings in Kinsale Capital Group were worth $907,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. FDx Advisors Inc. bought a new stake in Kinsale Capital Group during the 1st quarter worth approximately $266,000. MetLife Investment Advisors LLC bought a new stake in Kinsale Capital Group during the 4th quarter worth approximately $319,000. Hartford Investment Management Co. bought a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $329,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Kinsale Capital Group during the 2nd quarter worth approximately $410,000. Finally, First Mercantile Trust Co. grew its position in Kinsale Capital Group by 13.8% during the 2nd quarter. First Mercantile Trust Co. now owns 7,839 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 950 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on KNSL shares. Zacks Investment Research lowered Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 8th. BidaskClub upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. ValuEngine upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. TheStreet upgraded Kinsale Capital Group from a “c” rating to a “b-” rating in a research report on Friday, July 27th. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 price target on shares of Kinsale Capital Group in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Kinsale Capital Group currently has an average rating of “Buy” and an average target price of $61.33.
Kinsale Capital Group (NASDAQ:KNSL) last released its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). The business had revenue of $54.95 million for the quarter, compared to the consensus estimate of $53.63 million. Kinsale Capital Group had a return on equity of 12.59% and a net margin of 13.52%. analysts anticipate that Kinsale Capital Group Inc will post 1.87 earnings per share for the current year.
In other Kinsale Capital Group news, Chairman Robert Lippincott III sold 6,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $59.04, for a total value of $354,240.00. Following the transaction, the chairman now directly owns 10,017 shares in the company, valued at approximately $591,403.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick L. Jr. Russell sold 1,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $59.32, for a total value of $59,320.00. Following the completion of the transaction, the director now owns 1,111 shares in the company, valued at $65,904.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,000 shares of company stock worth $525,130. 8.20% of the stock is owned by corporate insiders.
About Kinsale Capital Group
Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess casualty, general casualty, product liability, professional liability, life sciences, allied health, health care, commercial property, management liability, environmental, public entity, inland marine, and commercial insurance, as well as homeowners insurance.
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