CX Institutional Buys 2,224 Shares of Kinsale Capital Group, Inc. $KNSL

CX Institutional grew its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 22.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,977 shares of the financial services provider’s stock after purchasing an additional 2,224 shares during the quarter. CX Institutional owned about 0.05% of Kinsale Capital Group worth $3,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Steelhead Wealth Management LLC acquired a new stake in shares of Kinsale Capital Group in the 1st quarter valued at approximately $781,000. Parallel Advisors LLC increased its holdings in Kinsale Capital Group by 185.7% during the first quarter. Parallel Advisors LLC now owns 120 shares of the financial services provider’s stock worth $41,000 after buying an additional 78 shares during the last quarter. Henshaw Capital LLC increased its holdings in Kinsale Capital Group by 23.7% during the first quarter. Henshaw Capital LLC now owns 4,247 shares of the financial services provider’s stock worth $1,451,000 after buying an additional 814 shares during the last quarter. Western Wealth Management LLC bought a new stake in Kinsale Capital Group during the first quarter worth $60,000. Finally, Turtle Creek Asset Management Inc. raised its position in Kinsale Capital Group by 47.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider’s stock worth $140,506,000 after acquiring an additional 132,576 shares in the last quarter. Institutional investors own 85.36% of the company’s stock.

Analyst Ratings Changes

KNSL has been the subject of a number of analyst reports. TD Cowen reissued a “hold” rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Truist Financial dropped their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Cantor Fitzgerald lowered their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Finally, Weiss Ratings lowered Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $362.11.

Kinsale Capital Group Trading Up 0.7%

KNSL stock opened at $363.09 on Wednesday. Kinsale Capital Group, Inc. has a one year low of $287.20 and a one year high of $485.00. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The company has a fifty day moving average price of $328.12 and a two-hundred day moving average price of $347.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.78 earnings per share. Equities analysts anticipate that Kinsale Capital Group, Inc. will post 21.12 EPS for the current year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued 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 currently 4.05%.

Insider Activity

In other news, CAO Christopher R. Tangard bought 330 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer owned 380 shares of the company’s stock, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the company’s 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 transaction, the insider directly owned 3,645 shares in the company, valued at $1,134,214.65. The trade was a 6.42% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is 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.