Kinsale Capital Group Inc. Increases Stake in Dollar General Corporation (NYSE:DG)

Key Points

• Kinsale Capital Group Inc. increased its holdings in Dollar General Corporation by 19.9% during the first quarter, now owning 47,258 shares valued at approximately $4.15 million.
• Insider selling was noted with EVP Kathleen A. Reardon and EVP Emily C. Taylor selling shares at prices around $111.56 and $113.00, respectively, decreasing their ownership in the company.
• Dollar General has recently seen analysts raise their target prices, with Bank of America setting a target of $135.00, indicating positive sentiment among research analysts.

Kinsale Capital Group Inc. boosted its holdings in Dollar General Corporation (NYSE:DG - Free Report) by 19.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,258 shares of the company's stock after buying an additional 7,830 shares during the quarter. Kinsale Capital Group Inc.'s holdings in Dollar General were worth $4,155,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in shares of Dollar General during the 4th quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of Dollar General during the 4th quarter valued at about $31,000. Mountain Hill Investment Partners Corp. increased its position in shares of Dollar General by 66.7% during the 1st quarter. Mountain Hill Investment Partners Corp. now owns 500 shares of the company's stock valued at $44,000 after purchasing an additional 200 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of Dollar General by 170.1% during the 1st quarter. Golden State Wealth Management LLC now owns 543 shares of the company's stock valued at $48,000 after purchasing an additional 342 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Dollar General by 39.4% during the 1st quarter. CVA Family Office LLC now owns 570 shares of the company's stock valued at $50,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DG shares. Bank of America increased their target price on shares of Dollar General from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Citigroup increased their target price on shares of Dollar General from $101.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Cfra Research raised shares of Dollar General to a "hold" rating in a report on Tuesday, June 3rd. Piper Sandler increased their target price on shares of Dollar General from $112.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI increased their target price on shares of Dollar General from $105.00 to $117.00 and gave the stock an "in-line" rating in a report on Thursday, June 5th. Sixteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Dollar General presently has an average rating of "Hold" and an average target price of $108.40.

Dollar General Trading Down 1.6%

NYSE:DG traded down $1.76 during midday trading on Monday, hitting $105.80. 2,728,539 shares of the company traded hands, compared to its average volume of 2,468,350. The firm's fifty day moving average is $109.73 and its 200-day moving average is $91.69. Dollar General Corporation has a 12-month low of $66.43 and a 12-month high of $126.98. The firm has a market capitalization of $23.28 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.63 and a beta of 0.31. The company has a current ratio of 1.23, a quick ratio of 0.20 and a debt-to-equity ratio of 0.74.

Dollar General (NYSE:DG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.32. Dollar General had a return on equity of 17.93% and a net margin of 2.81%. The company had revenue of $10.44 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Dollar General's quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Dollar General Corporation will post 5.75 EPS for the current year.

Dollar General Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $2.36 dividend on an annualized basis and a yield of 2.23%. Dollar General's payout ratio is 45.04%.

Insiders Place Their Bets

In other Dollar General news, EVP Emily C. Taylor sold 1,969 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $113.00, for a total value of $222,497.00. Following the sale, the executive vice president owned 46,563 shares in the company, valued at $5,261,619. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kathleen A. Reardon sold 6,438 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $111.56, for a total value of $718,223.28. Following the completion of the sale, the executive vice president owned 41,646 shares in the company, valued at approximately $4,646,027.76. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Dollar General Company Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.