4,804 Shares in Kinsale Capital Group, Inc. $KNSL Bought by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management acquired 4,804 shares of Kinsale Capital Group during the second quarter, worth approximately $1.584 million. Institutional investors and hedge funds collectively own 85.36% of the company.
• Kinsale reported stronger-than-expected quarterly results, with earnings per share of $5.54 versus the $5.11 consensus estimate and revenue of $548.52 million, up 16.8% year over year.
• KNSL shares opened at $378.88, while analysts maintain a largely cautious view: the stock has an average “Reduce” rating and a consensus price target of $362.11. The company also declared a quarterly dividend of $0.25 per share.

Maridea Wealth Management LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 4,804 shares of the financial services provider's stock, valued at approximately $1,584,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bayban bought a new stake in shares of Kinsale Capital Group in the fourth quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. Johnson Financial Group Inc. grew its holdings 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 worth $32,000 after buying an additional 54 shares in the last quarter. Larson Financial Group LLC raised its position in Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after buying an additional 54 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Kinsale Capital Group in the 2nd quarter valued at approximately $38,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinsale Capital Group

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

Kinsale Capital Group Stock Up 0.5%

KNSL stock opened at $378.88 on Friday. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $485.00. The business has a 50 day moving average price of $339.76 and a two-hundred day moving average price of $346.14. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to analysts' expectations of $445.13 million. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The business's revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.78 EPS. Analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group's dividend payout ratio is 4.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KNSL shares. JPMorgan Chase & Co. upped their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings downgraded shares of Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, June 26th. Royal Bank Of Canada cut their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a research report on Monday, April 27th. Truist Financial reduced their target price on shares of Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a report on Monday, April 27th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $362.11.

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.

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