Atria Wealth Solutions Inc. Has $861,000 Stock Holdings in Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Kinsale Capital Group by 35.7% in Q1, selling 982 shares and holding 1,770 shares worth $861,000.
• Several institutional investors significantly increased their positions, with GAMMA Investing LLC boosting its stake by 59,220.7% for a total ownership of 309,061 shares valued at $150.4 million.
• Kinsale Capital Group reported earnings per share (EPS) of $4.78 for the last quarter, exceeding estimates, with a revenue growth of 22.2% year-over-year.

Atria Wealth Solutions Inc. cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 35.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,770 shares of the financial services provider's stock after selling 982 shares during the period. Atria Wealth Solutions Inc.'s holdings in Kinsale Capital Group were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Kinsale Capital Group by 10.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after purchasing an additional 254 shares during the period. Bridges Investment Management Inc. increased its stake in Kinsale Capital Group by 111.5% in the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after purchasing an additional 2,650 shares in the last quarter. M&T Bank Corp increased its stake in Kinsale Capital Group by 43.4% in the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after purchasing an additional 1,111 shares in the last quarter. Artemis Investment Management LLP increased its stake in Kinsale Capital Group by 43.9% in the first quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after purchasing an additional 24,681 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in Kinsale Capital Group in the first quarter valued at approximately $270,000. 85.36% of the stock is owned by institutional investors.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL traded down $2.60 during midday trading on Friday, hitting $451.08. The stock had a trading volume of 120,502 shares, compared to its average volume of 206,840. The company's 50-day moving average price is $467.69 and its 200-day moving average price is $462.77. The company has a market capitalization of $10.51 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. 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, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79.

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

Kinsale Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on KNSL. JPMorgan Chase & Co. upped their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Compass Point boosted their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Bank of America initiated coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Cantor Fitzgerald raised Kinsale Capital Group to a "hold" rating in a research report on Wednesday. Finally, Truist Financial lifted their target price 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. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $505.80.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.50% of the company's stock.

Kinsale Capital Group 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.