Covey Capital Advisors LLC Acquires New Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Covey Capital Advisors LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,257 shares of the financial services provider’s stock, valued at approximately $585,000.

A number of other large investors have also recently added to or reduced their stakes in KNSL. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in Kinsale Capital Group in the 4th quarter valued at about $31,000. Allworth Financial LP grew its stake in Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 72 shares during the last quarter. UMB Bank n.a. grew its stake in Kinsale Capital Group by 67.2% in the 4th quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 41 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Kinsale Capital Group by 68.9% in the 3rd quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 42 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total value of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the transaction, the director now owns 7,348 shares in the company, valued at $3,672,456.92. The trade was a 23.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Up 0.4 %

Shares of KNSL stock opened at $442.05 on Friday. The firm has a market cap of $10.29 billion, a P/E ratio of 24.85, a PEG ratio of 1.63 and a beta of 1.15. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $548.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day simple moving average is $455.49 and its 200-day simple moving average is $465.68.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.39. The business had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 18.06 EPS for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.17 per share. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.15%. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is presently 3.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KNSL. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday, February 14th. Morgan Stanley decreased their price target on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price target on the stock in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of Kinsale Capital Group in a research note on Tuesday. Finally, Truist Financial raised their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $468.56.

Kinsale Capital Group Profile

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.