Christopher Tangard Acquires 330 Shares of Kinsale Capital Group (NYSE:KNSL) Stock

Kinsale Capital Group, Inc. (NYSE:KNSL) CAO Christopher Tangard acquired 330 shares of the company’s stock in a transaction on Monday, June 8th. The shares were bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kinsale Capital Group Stock Up 1.4%

NYSE:KNSL traded up $4.19 during trading hours on Tuesday, hitting $303.26. 192,677 shares of the company traded hands, compared to its average volume of 270,182. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $326.22 and its 200-day simple moving average is $362.52. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $512.76. The company has a market cap of $6.99 billion, a PE ratio of 13.35, a PEG ratio of 0.99 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating 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 business had revenue of $466.71 million for the quarter, compared to analysts’ expectations of $410.25 million. During the same period last year, the business earned $3.71 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts predict that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 28th. This represents a $1.00 annualized dividend and a yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.40%.

Institutional Investors Weigh In On Kinsale Capital Group

Several large investors have recently added to or reduced their stakes in KNSL. Life Cycle Investment Partners Ltd purchased a new stake in Kinsale Capital Group in the 4th quarter worth about $229,653,000. Capital World Investors increased its holdings in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after acquiring an additional 533,499 shares during the last quarter. Norges Bank purchased a new stake in Kinsale Capital Group in the 4th quarter worth about $107,916,000. Bank of America Corp DE increased its holdings in Kinsale Capital Group by 89.0% in the 1st quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider’s stock worth $97,556,000 after acquiring an additional 134,468 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its holdings in Kinsale Capital Group by 47.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after acquiring an additional 132,576 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

KNSL has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price objective 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. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $392.00 to $312.00 in a research note on Thursday, March 19th. JPMorgan Chase & Co. lowered their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings cut Kinsale Capital Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, Cantor Fitzgerald lowered their target price on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.