Virtu Financial LLC Acquires 1,985 Shares of Kinsale Capital Group, Inc. $KNSL

Virtu Financial LLC increased its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 175.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,118 shares of the financial services provider’s stock after acquiring an additional 1,985 shares during the period. Virtu Financial LLC’s holdings in Kinsale Capital Group were worth $1,219,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vancity Investment Management Ltd boosted its holdings in shares of Kinsale Capital Group by 11.9% in the 4th quarter. Vancity Investment Management Ltd now owns 2,423 shares of the financial services provider’s stock worth $947,000 after purchasing an additional 258 shares during the period. Invesco Ltd. raised its holdings in Kinsale Capital Group by 0.5% during the 4th quarter. Invesco Ltd. now owns 276,090 shares of the financial services provider’s stock valued at $107,984,000 after buying an additional 1,366 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Kinsale Capital Group by 8.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,491 shares of the financial services provider’s stock valued at $974,000 after buying an additional 201 shares during the period. Cim LLC lifted its position in Kinsale Capital Group by 4.5% in the fourth quarter. Cim LLC now owns 3,146 shares of the financial services provider’s stock worth $1,230,000 after buying an additional 136 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in Kinsale Capital Group by 238.1% during the fourth quarter. Empowered Funds LLC now owns 8,497 shares of the financial services provider’s stock worth $3,323,000 after buying an additional 5,984 shares during the period. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Stock Performance

Kinsale Capital Group stock opened at $308.19 on Friday. The company has a 50 day moving average price of $320.21 and a 200-day moving average price of $358.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The company has a market capitalization of $7.11 billion, a PE ratio of 13.56, a P/E/G ratio of 1.00 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million during the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the previous year, the business earned $3.71 earnings per share. Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 20.65 earnings per share for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction 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 trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Salmaan K. Allibhai sold 250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of analyst reports. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $420.00 to $357.00 in a research report on Monday, April 27th. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Cantor Fitzgerald cut their price target on shares of Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their price target for the company from $392.00 to $312.00 in a report on Thursday, March 19th. Finally, BMO Capital Markets lowered shares of Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective on the stock. in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $374.90.

Kinsale Capital Group 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.