Transcend Capital Advisors LLC Takes $296,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Transcend Capital Advisors LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 637 shares of the financial services provider’s stock, valued at approximately $296,000.

A number of other institutional investors also recently modified their holdings of KNSL. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new position in shares of Kinsale Capital Group in the fourth quarter valued at approximately $31,000. Allworth Financial LP raised its position in shares of Kinsale Capital Group by 450.0% in the fourth quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 72 shares during the period. UMB Bank n.a. raised its position in shares of Kinsale Capital Group by 67.2% in the fourth quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 41 shares during the period. Finally, Signaturefd LLC raised its position in shares of Kinsale Capital Group by 68.9% in the third quarter. Signaturefd LLC now owns 103 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 42 shares during the period. Institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

KNSL has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley dropped their target price on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Kinsale Capital Group in a research report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $468.56.

Kinsale Capital Group Trading Down 2.9 %

Shares of Kinsale Capital Group stock opened at $428.74 on Monday. The firm has a market capitalization of $9.99 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day moving average price is $452.64 and its two-hundred day moving average price is $465.46. Kinsale Capital Group, Inc. has a 52-week low of $355.12 and a 52-week high of $548.47.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.39. The firm had revenue of $412.12 million for the quarter, compared to analyst estimates of $418.32 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. On average, analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Kinsale Capital Group’s previous quarterly dividend of $0.15. Kinsale Capital Group’s payout ratio is 3.37%.

Insider Activity

In other news, Director James Joseph Ritchie sold 2,295 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total value of $1,147,018.05. Following the sale, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. The trade was a 23.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the transaction, the executive vice president now owns 6,994 shares in the company, valued at approximately $3,566,940. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group 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.