Spire Wealth Management Sells 345 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

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

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

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

Kinsale Capital Group Trading Up 3.1 %

Shares of NYSE:KNSL traded up $11.79 during trading on Monday, reaching $394.16. The stock had a trading volume of 234,942 shares, compared to its average volume of 204,590. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The firm’s fifty day moving average is $478.52 and its 200 day moving average is $413.02. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 26.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.12 and a current ratio of 0.12.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. The company had revenue of $372.79 million for the quarter, compared to analyst estimates of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 15.03 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

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

Kinsale Capital Group Company 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.