1,400 Shares in Kinsale Capital Group, Inc. (NYSE:KNSL) Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp purchased 1,400 shares of Kinsale Capital Group, valued at approximately $681,000, marking a new position in the company.
• Insider trading activity was reported, with EVP Diane D. Schnupp selling 1,398 shares, resulting in a 17.38% decrease in her holdings, now valued at $3.14 million.
• Research firms have upgraded Kinsale Capital Group's stock ratings, with Truist Financial increasing the price target from $500 to $560 and assigning a "buy" rating.

Alberta Investment Management Corp bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,400 shares of the financial services provider's stock, valued at approximately $681,000.

Other large investors have also made changes to their positions in the company. Key Financial Inc raised its stake in shares of Kinsale Capital Group by 315.4% during the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after purchasing an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Kinsale Capital Group during the first quarter worth $31,000. NBC Securities Inc. bought a new position in Kinsale Capital Group in the first quarter valued at about $35,000. von Borstel & Associates Inc. bought a new stake in shares of Kinsale Capital Group in the first quarter worth $42,000. Finally, Anderson Financial Strategies LLC bought a new stake in Kinsale Capital Group in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of analyst reports. Compass Point lifted their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Morgan Stanley boosted their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Truist Financial increased their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Bank of America initiated coverage on Kinsale Capital Group in a research note on Friday, June 20th. They issued a "buy" rating and a $543.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $506.44.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the transaction, the executive vice president directly owned 6,646 shares in the company, valued at approximately $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by insiders.

Kinsale Capital Group Price Performance

KNSL stock traded down $0.80 during trading on Friday, reaching $439.21. 44,386 shares of the company were exchanged, compared to its average volume of 206,401. The stock's 50 day moving average price is $470.49 and its 200 day moving average price is $462.55. The company has a market cap of $10.23 billion, a P/E ratio of 22.91, a PEG ratio of 1.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.37. The company had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business's revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.75 EPS. As a group, analysts predict that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 3.55%.

About Kinsale Capital Group

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.