Kinsale Capital Group (NYSE:KNSL) CAO Christopher Tangard Buys 330 Shares

Kinsale Capital Group, Inc. (NYSE:KNSL) CAO Christopher Tangard bought 330 shares of Kinsale Capital Group stock in a transaction dated Monday, June 8th. The shares were bought at an average cost 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Kinsale Capital Group Trading Up 1.4%

Shares of NYSE KNSL opened at $303.26 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 stock has a market capitalization of $6.99 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. The business has a fifty day moving average price of $325.72 and a 200 day moving average price of $361.99.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same period in the previous year, the company earned $3.71 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be given a dividend of $0.25 per share. The ex-dividend date is 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 currently 4.40%.

Analysts Set New Price Targets

A number of research firms recently issued reports on KNSL. Weiss Ratings downgraded shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Royal Bank Of Canada decreased their price objective on shares of 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. Cantor Fitzgerald decreased their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Truist Financial dropped their target price on 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, Wells Fargo & Company lowered Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $420.00 to $357.00 in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus price target of $390.18.

Kinsale Capital Group News Roundup

Here are the key news stories impacting Kinsale Capital Group this week:

• Positive Sentiment: Kinsale’s Chief Accounting Officer, Christopher R. Tangard, bought 330 shares at $304 each, lifting his direct ownership by 660%. Insider purchases are often viewed as a vote of confidence in the company’s outlook. SEC Form 4 filing
• Positive Sentiment: Zacks Research published upbeat commentary on Kinsale’s excess & surplus insurance business, saying the segment is driving premium growth, underwriting profitability, and market share gains. Zacks article
• Neutral Sentiment: Zacks Research slightly lowered near-term and longer-term EPS estimates for Kinsale, but the changes were very small and the forecasts still remain above the current-year consensus of $20.54 per share.
• Neutral Sentiment: An investing article highlighted a bullish value thesis on Kinsale, reinforcing positive sentiment, though it did not include any new company-specific catalyst. InsiderMonkey article

Institutional Trading of Kinsale Capital Group

A number of hedge funds have recently bought and sold shares of the business. Bamco Inc. NY raised its holdings in Kinsale Capital Group by 1.4% in 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 acquiring an additional 24,796 shares during the last quarter. Capital World Investors raised its holdings in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock valued at $386,366,000 after acquiring an additional 533,499 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in Kinsale Capital Group by 19.6% in the 4th 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 during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $229,653,000. Finally, DAVENPORT & Co LLC raised its holdings in Kinsale Capital Group by 1.9% in the 4th quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after acquiring an additional 10,137 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

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.