Kinsale Capital Group, Inc. (NYSE:KNSL) Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,282 shares of the financial services provider’s stock after selling 345 shares during the quarter. Spire Wealth Management owned approximately 0.06% of Kinsale Capital Group worth $4,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KNSL. Anchor Investment Management LLC purchased a new stake in Kinsale Capital Group during the 4th quarter worth approximately $25,000. Emerald Advisers LLC purchased a new stake in shares of Kinsale Capital Group in the third quarter valued at approximately $33,000. Beacon Capital Management LLC purchased a new position in Kinsale Capital Group during the fourth quarter worth approximately $33,000. Milestone Investment Advisors LLC acquired a new position in Kinsale Capital Group during the third quarter worth $58,000. Finally, Operose Advisors LLC acquired a new stake in shares of Kinsale Capital Group in the 3rd quarter worth $60,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Stock Up 3.1 %

NYSE KNSL traded up $11.79 during trading hours on Monday, hitting $394.16. 234,942 shares of the company were exchanged, compared to its average volume of 204,590. The company has a 50 day moving average of $478.52 and a two-hundred day moving average of $413.02. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 26.18 and a beta of 0.98. Kinsale Capital Group, Inc. has a 52-week low of $297.33 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The company had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was up 41.7% on a year-over-year basis. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.15 per share. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

Insider Buying and Selling at Kinsale Capital Group

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total transaction of $1,048,180.00. Following the completion of the sale, the director now owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,778 shares of company stock worth $4,532,422. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KNSL. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a research report on Monday, April 29th. Compass Point dropped their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. upped their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Truist Financial cut their target price on Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, BMO Capital Markets decreased their price target on Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $438.43.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.