Salmaan Allibhai Sells 250 Shares of Kinsale Capital Group (NYSE:KNSL) Stock

Kinsale Capital Group, Inc. (NYSE:KNSL) insider Salmaan Allibhai sold 250 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Kinsale Capital Group Stock Performance

KNSL stock opened at $308.41 on Friday. The business’s fifty day moving average is $330.74 and its 200-day moving average is $367.12. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The company has a market cap of $7.11 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. Kinsale Capital Group, Inc. has a twelve month low of $293.78 and a twelve month high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.71 EPS. Equities research analysts forecast that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is 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 is 4.40%.

Institutional Trading of Kinsale Capital Group

Several hedge funds have recently added to or reduced their stakes in the business. Isthmus Partners LLC acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $8,110,000. JPMorgan Chase & Co. lifted its stake in Kinsale Capital Group by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock valued at $191,386,000 after purchasing an additional 25,428 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Kinsale Capital Group by 17.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,501 shares of the financial services provider’s stock valued at $9,569,000 after purchasing an additional 3,305 shares during the last quarter. Leibman Financial Services Inc. lifted its stake in Kinsale Capital Group by 109.9% in the 4th quarter. Leibman Financial Services Inc. now owns 9,438 shares of the financial services provider’s stock valued at $3,691,000 after purchasing an additional 4,942 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Kinsale Capital Group by 7,444.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 37,721 shares of the financial services provider’s stock valued at $16,041,000 after purchasing an additional 37,221 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Royal Bank Of Canada dropped their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Truist Financial dropped their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Morgan Stanley dropped their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Finally, Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $390.18.

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.