Gibbs Wealth Management Makes New $599,000 Investment in Kinsale Capital Group, Inc. $KNSL

Gibbs Wealth Management purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,752 shares of the financial services provider’s stock, valued at approximately $599,000.

A number of other large investors have also made changes to their positions in the stock. Capital World Investors increased its holdings in Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. raised its position in Kinsale Capital Group by 19.6% during the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock worth $240,401,000 after acquiring an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group during the fourth quarter worth about $229,653,000. DF Dent & Co. Inc. lifted its holdings in shares of Kinsale Capital Group by 19.2% in the fourth quarter. DF Dent & Co. Inc. now owns 315,756 shares of the financial services provider’s stock valued at $123,498,000 after purchasing an additional 50,846 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kinsale Capital Group by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 299,832 shares of the financial services provider’s stock valued at $102,435,000 after acquiring an additional 14,178 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Key Kinsale Capital Group News

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

Insiders Place Their Bets

In other news, insider Salmaan K. Allibhai sold 250 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider owned 3,645 shares of the company’s stock, valued at $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Up 4.9%

Shares of NYSE:KNSL opened at $348.70 on Friday. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76. The company has a market cap of $8.04 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.12 and a beta of 0.90. The stock’s 50-day moving average is $321.17 and its 200-day moving average is $349.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.89%. The company had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period last year, the business posted $4.78 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts predict that Kinsale Capital Group, Inc. will post 20.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group’s payout ratio is currently 4.05%.

Analysts Set New Price Targets

A number of research analysts have recently commented on KNSL shares. Truist Financial dropped their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company raised their target price on Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada cut their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $373.80.

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.