Catalyst Capital Advisors LLC Raises Stock Position in Kinsale Capital Group, Inc. $KNSL

Catalyst Capital Advisors LLC boosted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 277.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,040 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Kinsale Capital Group were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in KNSL. Bayban bought a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in Kinsale Capital Group during the fourth quarter worth $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter worth $29,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 54 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Christopher R. Tangard bought 330 shares of Kinsale Capital Group stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KNSL shares. Wells Fargo & Company increased their price objective on Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley dropped their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. 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, Cantor Fitzgerald lowered their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Kinsale Capital Group currently has an average rating of “Reduce” and an average target price of $375.80.

Kinsale Capital Group Trading Up 2.4%

Shares of KNSL stock opened at $343.49 on Friday. The firm has a market capitalization of $7.92 billion, a P/E ratio of 15.12, a PEG ratio of 1.08 and a beta of 0.90. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The stock’s fifty day moving average is $317.62 and its two-hundred day moving average is $351.23. 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 (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $3.71 EPS. The business’s revenue was down .5% on a year-over-year basis. Research analysts expect that Kinsale Capital Group, Inc. will post 20.71 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio is currently 4.40%.

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.