Verdence Capital Advisors LLC Has $625,000 Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Verdence Capital Advisors LLC grew its position in Kinsale Capital Group, Inc. (NYSE:KNSL) by 34.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,285 shares of the financial services provider’s stock after buying an additional 329 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Kinsale Capital Group were worth $625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Key Financial Inc lifted its stake in Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 41 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Kinsale Capital Group in the first quarter valued at approximately $35,000. von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group in the first quarter valued at approximately $42,000. Physician Wealth Advisors Inc. bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $49,000. Finally, Anderson Financial Strategies LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $54,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KNSL shares. JPMorgan Chase & Co. reduced their target price on shares of Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Bank of America assumed coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a “buy” rating and a $543.00 price target on the stock. Morgan Stanley upped their price target on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 22nd. Finally, Truist Financial dropped their price objective on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $491.88.

Kinsale Capital Group Trading Down 0.8%

NYSE KNSL opened at $479.76 on Friday. The company has a market cap of $11.18 billion, a PE ratio of 27.60, a PEG ratio of 1.79 and a beta of 1.19. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The stock has a 50 day moving average of $471.44 and a 200-day moving average of $459.98.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 EPS for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the prior year, the firm posted $3.50 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a yield of 0.15%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group’s dividend payout ratio is 3.91%.

Insider Transactions at Kinsale Capital Group

In other news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president owned 6,646 shares of the company’s stock, valued at approximately $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.