Kinsale Capital Group, Inc. $KNSL Stake Lessened by HB Wealth Management LLC

HB Wealth Management LLC decreased its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,514 shares of the financial services provider’s stock after selling 1,842 shares during the quarter. HB Wealth Management LLC’s holdings in Kinsale Capital Group were worth $1,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its position in shares of Kinsale Capital Group by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after purchasing an additional 24,796 shares during the period. Capital World Investors lifted its stake 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 valued at $386,366,000 after purchasing an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. lifted its stake 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 valued at $240,401,000 after purchasing an additional 100,600 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. Finally, DAVENPORT & Co LLC grew its position in Kinsale Capital Group by 1.9% in the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock worth $208,443,000 after buying an additional 10,137 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KNSL has been the subject of a number of recent research reports. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Wells Fargo & Company lowered Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Royal Bank Of Canada decreased their price target 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. Morgan Stanley cut 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. Finally, Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $374.90.

Kinsale Capital Group Price Performance

NYSE KNSL opened at $348.91 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.90. The company has a 50 day simple moving average of $314.17 and a 200-day simple moving average of $354.18. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings data 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. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the prior year, the business earned $3.71 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. Kinsale Capital Group’s payout ratio is 4.40%.

Insiders Place Their Bets

In related news, CEO Michael P. Kehoe sold 22,576 shares of the 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 transaction, the chief executive officer owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company’s stock, valued at approximately $115,520. The trade was a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 5.60% of the company’s stock.

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.