Cetera Investment Advisers Acquires 589 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Cetera Investment Advisers increased its stake in Kinsale Capital Group by 7.3%, acquiring an additional 589 shares during the first quarter, bringing its total holdings to 8,625 shares valued at approximately $4.2 million.
• Kinsale Capital Group's recent quarterly earnings exceeded expectations, reporting $4.78 earnings per share against a consensus estimate of $4.41, and a revenue increase of 22.2% compared to the previous year.
• The company declared a dividend of $0.17, with a dividend yield of 15.0%, paid to stockholders on June 12th.

Cetera Investment Advisers boosted its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,625 shares of the financial services provider's stock after buying an additional 589 shares during the period. Cetera Investment Advisers' holdings in Kinsale Capital Group were worth $4,198,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Key Financial Inc raised its holdings in shares of Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares during the period. NBC Securities Inc. bought a new position in Kinsale Capital Group during the 1st quarter worth about $35,000. von Borstel & Associates Inc. acquired a new stake in shares of Kinsale Capital Group in the 1st quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Kinsale Capital Group in the 4th quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Kinsale Capital Group by 39.4% in the first quarter. SBI Securities Co. Ltd. now owns 138 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of KNSL opened at $444.39 on Monday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The company's fifty day simple moving average is $472.48 and its 200 day simple moving average is $462.73. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.65 and a beta of 1.12.

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 for the quarter, topping the consensus estimate of $4.41 by $0.37. The company had revenue of $458.70 million for 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%. Kinsale Capital Group's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.75 EPS. On average, research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KNSL. Morgan Stanley increased their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Truist Financial raised their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Compass Point lifted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their price objective on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, BMO Capital Markets raised their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $506.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.