2,288 Shares in Kinsale Capital Group, Inc. $KNSL Acquired by Steelhead Wealth Management LLC

Steelhead Wealth Management LLC bought a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the first quarter, HoldingsChannel reports. The institutional investor bought 2,288 shares of the financial services provider’s stock, valued at approximately $781,000.

Other large investors have also recently bought and sold shares of the company. Capital World Investors increased its position in Kinsale Capital Group by 117.4% during the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. lifted its position in shares of Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider’s stock valued at $240,401,000 after acquiring an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the fourth quarter valued at $229,653,000. Turtle Creek Asset Management Inc. boosted its stake in shares of Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after acquiring an additional 132,576 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its position in Kinsale Capital Group by 19.2% during the 4th quarter. DF Dent & Co. Inc. now owns 315,756 shares of the financial services provider’s stock worth $123,498,000 after purchasing an additional 50,846 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Morgan Stanley decreased their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $362.11.

Insider Activity

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer directly owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares in the company, valued at $115,520. This represents a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Up 0.4%

KNSL opened at $357.68 on Monday. The firm’s fifty day moving average price is $326.11 and its 200 day moving average price is $347.76. The stock has a market capitalization of $8.15 billion, a PE ratio of 14.49, a P/E/G ratio of 1.13 and a beta of 0.90. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $485.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

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, beating the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. During the same period in the prior year, the company posted $4.78 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, research analysts expect that Kinsale Capital Group, Inc. will post 21.12 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

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.