Insider Buying: Kinsale Capital Group (NYSE:KNSL) CAO Purchases $100,320.00 in Stock

Kinsale Capital Group, Inc. (NYSE:KNSL) CAO Christopher Tangard bought 330 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL opened at $310.99 on Friday. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. The business has a 50-day moving average of $324.66 and a 200-day moving average of $361.08. 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 company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.02 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. During the same quarter in the prior year, the business earned $3.71 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Institutional Trading of Kinsale Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bamco Inc. NY raised its stake in Kinsale Capital Group by 1.4% during the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider’s stock valued at $760,616,000 after buying an additional 24,796 shares in the last quarter. Capital World Investors raised 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 buying an additional 533,499 shares in the last quarter. First Manhattan CO. LLC. raised 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 buying an additional 100,600 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $229,653,000. Finally, DAVENPORT & Co LLC raised its stake in Kinsale Capital Group by 1.9% during the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider’s stock valued at $208,443,000 after buying an additional 10,137 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the subject of several analyst reports. Wall Street Zen downgraded Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Truist Financial cut their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada cut their price target on Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. BMO Capital Markets cut Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price target on the stock. in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company cut Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $420.00 to $357.00 in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of “Hold” and a consensus price target of $390.18.

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.