Principal Financial Group Inc. Buys 2,312 Shares of Kinsale Capital Group, Inc. $KNSL

Principal Financial Group Inc. lifted its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,758 shares of the financial services provider’s stock after purchasing an additional 2,312 shares during the period. Principal Financial Group Inc. owned 0.22% of Kinsale Capital Group worth $17,000,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bayban bought a new position in Kinsale Capital Group in the 4th quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. bought a new stake in shares of Kinsale Capital Group during the fourth quarter worth $29,000. International Assets Investment Management LLC bought a new stake in shares of Kinsale Capital Group during the fourth quarter worth $29,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Kinsale Capital Group by 257.1% during the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 54 shares during the period. Institutional investors own 85.36% of the company’s stock.

Insider Buying and Selling at Kinsale Capital Group

In other news, CAO Christopher R. Tangard bought 330 shares of the business’s stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This trade represents a 660.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the transaction, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $325.63 on Thursday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.51 billion, a P/E ratio of 14.33, a PEG ratio of 1.09 and a beta of 0.90. The business has a 50-day moving average of $319.83 and a 200-day moving average of $349.77. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results 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. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The business had revenue of $466.71 million for the quarter, compared to the consensus estimate of $410.25 million. During the same period last year, the company posted $3.71 EPS. Kinsale Capital Group’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts anticipate that Kinsale Capital Group, Inc. will post 20.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a 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 Analyst Weigh In

Several research firms recently issued reports on KNSL. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a report on Tuesday, June 16th. Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. JPMorgan Chase & Co. upped their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada reduced their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Finally, Morgan Stanley lowered their price target on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $373.80.

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.