Peterson Wealth Services Acquires 1,721 Shares of Kinsale Capital Group, Inc. $KNSL

Peterson Wealth Services boosted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 15,645.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,732 shares of the financial services provider’s stock after purchasing an additional 1,721 shares during the period. Peterson Wealth Services’ holdings in Kinsale Capital Group were worth $677,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vident Advisory LLC raised its holdings in Kinsale Capital Group by 2.9% in the second quarter. Vident Advisory LLC now owns 825 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 23 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Kinsale Capital Group by 20.9% in the second quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 28 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Kinsale Capital Group by 3.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 28 shares in the last quarter. Signaturefd LLC raised its holdings in Kinsale Capital Group by 39.0% in the fourth quarter. Signaturefd LLC now owns 107 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Finally, CWM LLC raised its holdings in Kinsale Capital Group by 5.3% in the fourth quarter. CWM LLC now owns 592 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 30 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kinsale Capital Group

In related news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher R. Tangard purchased 330 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by insiders.

Kinsale Capital Group Stock Performance

KNSL opened at $310.99 on Friday. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76. 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 company has a market cap of $7.17 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The firm’s 50-day moving average price is $324.66 and its 200-day moving average price is $361.08.

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

Kinsale Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KNSL shares. Cantor Fitzgerald reduced their price target 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. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. Truist Financial reduced their price target 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. Wells Fargo & Company downgraded Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $420.00 to $357.00 in a research report on Monday, April 27th. Finally, Royal Bank Of Canada reduced 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 report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Kinsale Capital Group currently has an average rating of “Hold” and a consensus target price of $390.18.

Kinsale Capital Group Profile

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.