Kinsale Capital Group, Inc. (NYSE:KNSL) Director James Joseph Ritchie Sells 2,295 Shares

Kinsale Capital Group, Inc. (NYSE:KNSL) Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now directly owns 7,348 shares in the company, valued at $3,672,456.92. This represents a 23.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock opened at $498.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a one year low of $325.01 and a one year high of $548.47. The business’s 50 day simple moving average is $469.74 and its two-hundred day simple moving average is $439.80. The stock has a market capitalization of $11.62 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. The firm had revenue of $418.06 million for the quarter, compared to analysts’ expectations of $359.43 million. During the same quarter last year, the business earned $3.31 earnings per share. The business’s revenue was up 33.0% on a year-over-year basis. Analysts forecast that Kinsale Capital Group, Inc. will post 15.52 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Friday, November 29th. Kinsale Capital Group’s dividend payout ratio is 3.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KNSL. Franklin Resources Inc. lifted its stake in Kinsale Capital Group by 14.3% in the third quarter. Franklin Resources Inc. now owns 97,120 shares of the financial services provider’s stock worth $45,869,000 after acquiring an additional 12,125 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Kinsale Capital Group in the third quarter worth $398,000. Sanctuary Advisors LLC lifted its stake in Kinsale Capital Group by 34.8% in the third quarter. Sanctuary Advisors LLC now owns 1,731 shares of the financial services provider’s stock worth $863,000 after acquiring an additional 447 shares during the period. Arete Wealth Advisors LLC lifted its stake in Kinsale Capital Group by 13.5% in the third quarter. Arete Wealth Advisors LLC now owns 1,093 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 130 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in Kinsale Capital Group by 5.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,444 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 74 shares during the period. Institutional investors own 85.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a research report on Thursday, November 21st. Jefferies Financial Group raised their price target on Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley initiated coverage on Kinsale Capital Group in a research note on Thursday. They set an “overweight” rating and a $593.00 price target for the company. Truist Financial reduced their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Royal Bank of Canada dropped their target price on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $472.00.

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.