Absher Wealth Management LLC Invests $1.25 Million in Kinsale Capital Group, Inc. $KNSL

Absher Wealth Management LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,673 shares of the financial services provider's stock, valued at approximately $1,255,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $25,000. Bayban acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter valued at $29,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of Kinsale Capital Group by 257.1% during the 3rd 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. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.1%

Shares of NYSE:KNSL opened at $340.94 on Monday. The firm has a market cap of $7.86 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.10 and a beta of 0.90. Kinsale Capital Group, Inc. has a 12-month low of $287.20 and a 12-month high of $512.76. The business has a fifty day simple moving average of $314.91 and a 200 day simple moving average of $353.02. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The firm had revenue of $466.71 million for the quarter, compared to analyst estimates of $410.25 million. During the same quarter in the previous year, the company posted $3.71 EPS. The business's revenue was down .5% on a year-over-year basis. Analysts predict that Kinsale Capital Group, Inc. will post 20.67 earnings per share 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 4.40%.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 22,576 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the sale, the chief executive officer directly owned 308,048 shares of the company's stock, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the 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 sale, the insider owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This trade 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.

Analyst Ratings Changes

A number of research firms have issued reports on KNSL. Morgan Stanley decreased their target price on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st. Royal Bank Of Canada dropped their target price on shares of Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. Wells Fargo & Company upped their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an "equal weight" rating in a research report on Thursday. Cantor Fitzgerald dropped their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Finally, Truist Financial cut 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 research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $375.80.

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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