Diversify Wealth Management LLC Increases Stock Holdings in Kinsale Capital Group, Inc. $KNSL

Diversify Wealth Management LLC grew its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 225.8% in the 1st quarter, HoldingsChannel reports. The firm owned 6,392 shares of the financial services provider’s stock after purchasing an additional 4,430 shares during the quarter. Diversify Wealth Management LLC’s holdings in Kinsale Capital Group were worth $2,116,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Life Cycle Investment Partners Ltd purchased a new position in Kinsale Capital Group in the 4th quarter valued at approximately $229,653,000. Capital World Investors increased its position in shares of 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 worth $386,366,000 after acquiring an additional 533,499 shares during the period. Norges Bank acquired a new stake in shares of Kinsale Capital Group in the fourth quarter valued at $107,916,000. First Manhattan CO. LLC. raised its stake in shares of Kinsale Capital Group by 19.6% in 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 acquiring an additional 100,600 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in Kinsale Capital Group by 2,621.6% in the fourth quarter. M&T Bank Corp now owns 91,118 shares of the financial services provider’s stock valued at $35,638,000 after purchasing an additional 87,770 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $344.71 on Tuesday. 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, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The firm has a 50-day simple moving average of $315.33 and a 200-day simple moving average of $352.65. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. Kinsale Capital Group’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $3.71 EPS. On average, equities research analysts anticipate that Kinsale Capital Group, Inc. will post 20.67 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on KNSL shares. Cantor Fitzgerald decreased their price objective on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Royal Bank Of Canada decreased their price target on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Truist Financial lowered their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One equities 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 company. Based on data from MarketBeat, Kinsale Capital Group has a consensus rating of “Reduce” and an average target price of $375.80.

Insider Buying and Selling at Kinsale Capital Group

In related news, CEO Michael P. Kehoe sold 22,576 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer owned 308,048 shares in the company, valued at $93,233,807.68. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher R. Tangard bought 330 shares of the stock in a transaction on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Company 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.