Steelhead Wealth Management LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,288 shares of the financial services provider’s stock, valued at approximately $781,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KNSL. Isthmus Partners LLC acquired a new stake in Kinsale Capital Group during the 4th quarter worth $8,110,000. Life Cycle Investment Partners Ltd purchased a new stake in Kinsale Capital Group in the fourth quarter valued at $229,653,000. Tudor Investment Corp ET AL lifted its position in Kinsale Capital Group by 7,444.2% in the third quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after acquiring an additional 37,221 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Kinsale Capital Group by 37.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider’s stock valued at $81,382,000 after acquiring an additional 56,916 shares in the last quarter. Finally, Cumberland Partners Ltd acquired a new position in Kinsale Capital Group in the fourth quarter valued at $2,347,000. Institutional investors and hedge funds own 85.36% of the company’s stock.
Kinsale Capital Group Trading Up 0.4%
NYSE KNSL opened at $357.68 on Monday. The stock has a market capitalization of $8.15 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.13 and a beta of 0.90. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The firm has a 50-day moving average price of $326.11 and a 200 day moving average price of $347.76. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.
Kinsale Capital Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.
Analysts Set New Price Targets
KNSL has been the topic of a number of research analyst reports. Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Morgan Stanley decreased their target price on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Wells Fargo & Company raised their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Kinsale Capital Group presently has an average rating of “Reduce” and an average price target of $362.11.
Insiders Place Their Bets
In related news, CAO Christopher R. Tangard acquired 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were purchased at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on 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 sale, the chief executive officer owned 308,048 shares of the company’s stock, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.
Kinsale Capital Group Profile
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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