Kinsale Capital Group, Inc. (KNSL) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Kinsale Capital Group, Inc. (NASDAQ:KNSL) from a buy rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “Kinsale Capital Group, Inc. is a specialty insurance company. Its commercial lines offerings include construction, small business, professional liability, excess casualty, energy, general casualty, life sciences, allied health, product liability, healthcare, commercial property, management liability, inland marine, environmental, public entity and commercial insurance. The Company also writes homeowners insurance in the personal lines market. Kinsale Capital Group, Inc. is based in Richmond, Virginia. “

Several other research firms have also commented on KNSL. SunTrust Banks, Inc. reissued a buy rating and issued a $50.00 price target on shares of Kinsale Capital Group in a research report on Monday. They noted that the move was a valuation call. William Blair lowered Kinsale Capital Group from an outperform rating to a market perform rating in a research report on Monday. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $41.00 target price on shares of Kinsale Capital Group in a research report on Sunday, August 6th.

Shares of Kinsale Capital Group (NASDAQ:KNSL) traded up 0.105% during trading on Tuesday, hitting $42.765. The stock had a trading volume of 38,687 shares. Kinsale Capital Group has a 12 month low of $20.84 and a 12 month high of $47.78. The company has a market cap of $896.70 million, a P/E ratio of 67.346 and a beta of 0.09. The stock has a 50-day moving average price of $42.30 and a 200 day moving average price of $42.30.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.56%. The ex-dividend date was Tuesday, August 29th. Kinsale Capital Group’s dividend payout ratio is currently 19.20%.

In related news, Director Frederick L. Jr. Russell sold 124,812 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $36.58, for a total transaction of $4,565,622.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 11.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in shares of Kinsale Capital Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,063 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 39 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Kinsale Capital Group by 17.0% in the second quarter. Russell Investments Group Ltd. now owns 3,540 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 515 shares during the period. Strs Ohio increased its holdings in shares of Kinsale Capital Group by 3.2% in the second quarter. Strs Ohio now owns 19,400 shares of the financial services provider’s stock valued at $723,000 after purchasing an additional 600 shares during the period. Cadence Capital Management LLC increased its holdings in shares of Kinsale Capital Group by 5.8% in the second quarter. Cadence Capital Management LLC now owns 37,392 shares of the financial services provider’s stock valued at $1,395,000 after purchasing an additional 2,034 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Kinsale Capital Group by 32.1% in the fourth quarter. Teachers Advisors LLC now owns 9,363 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 2,275 shares during the period. 79.79% of the stock is currently owned by institutional investors.

About Kinsale Capital Group

Kinsale Capital Group, Inc is a specialty insurance company. The Company focuses on the excess and surplus lines (E&S) market in the United States. The Company operates through the Excess and Surplus Lines Insurance segment. The Company markets and sells these insurance products in approximately 50 states and the District of Columbia through a network of independent insurance brokers.

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