Bank of America Corp DE Buys 134,468 Shares of Kinsale Capital Group, Inc. $KNSL

Bank of America Corp DE increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 89.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 285,535 shares of the financial services provider’s stock after acquiring an additional 134,468 shares during the quarter. Bank of America Corp DE’s holdings in Kinsale Capital Group were worth $97,556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KNSL. V Square Quantitative Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter worth about $25,000. Bayban purchased a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $29,000. Johnson Financial Group Inc. grew its holdings in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Kinsale Capital Group by 225.0% during the third quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 54 shares during the period. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Royal Bank Of Canada cut their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Truist Financial lowered their price objective on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price 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. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $362.11.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 0.9%

Shares of Kinsale Capital Group stock opened at $373.12 on Friday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.19 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.09 and a current ratio of 0.09. The stock’s 50-day simple moving average is $332.13 and its 200 day simple moving average is $347.21.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $4.78 earnings per share. As a group, research analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.25 dividend. 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 currently 4.05%.

Kinsale Capital Group Company Profile

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.