Insider Selling: Kinsale Capital Group (NYSE:KNSL) Insider Sells $77,792.50 in Stock

Kinsale Capital Group, Inc. (NYSE:KNSL) insider Salmaan 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 completion of the sale, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kinsale Capital Group Price Performance

KNSL stock opened at $305.67 on Friday. The company has a market capitalization of $7.05 billion, a P/E ratio of 13.45, a PEG ratio of 1.00 and a beta of 0.95. Kinsale Capital Group, Inc. has a twelve month low of $293.78 and a twelve month high of $512.76. The business has a 50 day simple moving average of $329.87 and a 200-day simple moving average of $366.69. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

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 the consensus estimate of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.71 earnings per share. As a group, equities analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued 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 is Thursday, May 28th. Kinsale Capital Group’s dividend payout ratio is presently 4.40%.

Institutional Investors Weigh In On Kinsale Capital Group

Several hedge funds have recently modified their holdings of KNSL. Life Cycle Investment Partners Ltd acquired a new stake in shares of Kinsale Capital Group during the fourth quarter worth $229,653,000. Capital World Investors raised its position in Kinsale Capital Group by 117.4% in 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 in the last quarter. Norges Bank acquired a new stake in Kinsale Capital Group in the fourth quarter valued at $107,916,000. Bank of America Corp DE lifted its holdings in Kinsale Capital Group by 89.0% in the first quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider’s stock valued at $97,556,000 after acquiring an additional 134,468 shares during the period. Finally, Turtle Creek Asset Management Inc. lifted its holdings in Kinsale Capital Group by 47.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock valued at $140,506,000 after acquiring an additional 132,576 shares during the period. 85.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several research analyst reports. BMO Capital Markets downgraded Kinsale Capital Group from a “market perform” rating to an “underperform” rating and set a $348.00 price objective for the company. in a report on Wednesday, February 25th. Truist Financial decreased their price target on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a report on Monday, April 27th. Jefferies Financial Group downgraded Kinsale Capital Group from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $392.00 to $312.00 in a report on Thursday, March 19th. Wells Fargo & Company downgraded Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $420.00 to $357.00 in a report on Monday, April 27th. Finally, Morgan Stanley decreased their price target on Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently 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.