Gibbs Wealth Management bought a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,752 shares of the financial services provider’s stock, valued at approximately $599,000.
Several other institutional investors also recently bought and sold shares of KNSL. Vident Advisory LLC lifted its position in shares of Kinsale Capital Group by 2.9% during the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock worth $339,000 after buying an additional 28 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after buying an additional 28 shares in the last quarter. Signaturefd LLC lifted its holdings in Kinsale Capital Group by 39.0% during the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider’s stock worth $42,000 after buying an additional 30 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Kinsale Capital Group by 5.3% in the fourth quarter. CWM LLC now owns 592 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 30 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.
Kinsale Capital Group Trading Up 4.9%
NYSE KNSL opened at $348.70 on Friday. The firm’s fifty day moving average price is $321.17 and its 200 day moving average price is $349.35. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90.
Kinsale Capital Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.
Key Stories Impacting Kinsale Capital Group
Here are the key news stories impacting Kinsale Capital Group this week:
- Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
- Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
- Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
- Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here’s Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
- Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
Analyst Upgrades and Downgrades
KNSL has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. Wells Fargo & Company raised their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Truist Financial dropped their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Cantor Fitzgerald cut their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $373.80.
Get Our Latest Stock Analysis on KNSL
Insiders Place Their Bets
In other news, CEO Michael P. Kehoe sold 22,576 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher R. Tangard purchased 330 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is currently owned by insiders.
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.
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