Christopher Tangard Acquires 330 Shares of Kinsale Capital Group (NYSE:KNSL) Stock

Kinsale Capital Group, Inc. (NYSE:KNSL) CAO Christopher Tangard acquired 330 shares of the company’s stock in a transaction dated 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. The trade was a 660.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Kinsale Capital Group Stock Up 3.6%

Shares of NYSE KNSL opened at $314.09 on Thursday. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The company has a market cap of $7.24 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.98 and a beta of 0.91. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $325.27 and a 200 day moving average price of $361.59.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $466.71 million during 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 company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $3.71 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 4.40%.

Hedge Funds Weigh In On Kinsale Capital Group

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in Kinsale Capital Group by 185.7% in the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 78 shares in the last quarter. Henshaw Capital LLC lifted its holdings in Kinsale Capital Group by 23.7% in the first quarter. Henshaw Capital LLC now owns 4,247 shares of the financial services provider’s stock worth $1,451,000 after acquiring an additional 814 shares during the last quarter. Western Wealth Management LLC bought a new position in Kinsale Capital Group in the first quarter worth about $60,000. Turtle Creek Asset Management Inc. lifted its holdings in Kinsale Capital Group by 47.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after acquiring an additional 132,576 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Kinsale Capital Group by 89.0% in the first quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider’s stock worth $97,556,000 after acquiring an additional 134,468 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KNSL. Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target for the company. in a research note on Wednesday, February 25th. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. decreased their price target on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.