Moran Wealth Management LLC Acquires 368 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Moran Wealth Management LLC raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 5.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,936 shares of the financial services provider’s stock after acquiring an additional 368 shares during the period. Moran Wealth Management LLC’s holdings in Kinsale Capital Group were worth $3,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in KNSL. LPL Financial LLC boosted its position in shares of Kinsale Capital Group by 29.4% in the fourth quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider’s stock valued at $9,310,000 after acquiring an additional 4,644 shares during the period. California Public Employees Retirement System raised its stake in Kinsale Capital Group by 11.8% during the 4th quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider’s stock valued at $18,299,000 after purchasing an additional 4,146 shares during the last quarter. Merit Financial Group LLC bought a new stake in Kinsale Capital Group in the 1st quarter valued at $441,000. Portside Wealth Group LLC grew its position in Kinsale Capital Group by 206.3% in the 1st quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Kinsale Capital Group by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 36,736 shares of the financial services provider’s stock worth $17,880,000 after purchasing an additional 1,374 shares during the last quarter. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Trading Down 2.5%

Shares of KNSL opened at $466.18 on Thursday. Kinsale Capital Group, Inc. has a 1 year low of $366.92 and a 1 year high of $531.79. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $463.90 and a 200-day simple moving average of $460.27. The stock has a market cap of $10.87 billion, a PE ratio of 26.82, a PEG ratio of 1.78 and a beta of 1.20.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.56. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $425.73 million. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.50 earnings per share. On average, sell-side analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.17 per share. This represents a dividend yield of 0.15%. The ex-dividend date was Thursday, May 29th. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KNSL shares. Morgan Stanley increased their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research note on Monday, May 19th. Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They issued a “buy” rating and a $543.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Kinsale Capital Group from $402.00 to $400.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Wall Street Zen upgraded Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Truist Financial reduced their target price on Kinsale Capital Group from $525.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Hold” and a consensus price target of $491.88.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president now directly owns 6,646 shares of the company’s stock, valued at $3,136,912. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Kinsale Capital Group Company 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.