HB Wealth Management LLC Purchases 4,131 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• HB Wealth Management LLC significantly increased its stake in Kinsale Capital Group, purchasing 4,131 additional shares, bringing their total to 4,661 shares worth approximately $2.27 million.
• Kinsale Capital Group recently achieved a quarterly earnings per share of $4.78, surpassing estimates and reflecting a 22.2% increase in revenue year-over-year.
• Several analysts have raised their price targets for Kinsale Capital Group stock, with Morgan Stanley setting a new target at $525.00 and assigning an "overweight" rating.

HB Wealth Management LLC boosted its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 779.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,661 shares of the financial services provider's stock after acquiring an additional 4,131 shares during the period. HB Wealth Management LLC's holdings in Kinsale Capital Group were worth $2,269,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KNSL. Key Financial Inc lifted its holdings in 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 in the last quarter. NBC Securities Inc. acquired a new stake in shares of Kinsale Capital Group during the first quarter worth about $35,000. von Borstel & Associates Inc. bought a new position in shares of Kinsale Capital Group during the 1st quarter valued at about $42,000. Physician Wealth Advisors Inc. bought a new position in shares of Kinsale Capital Group during the 4th quarter valued at about $49,000. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $54,000. Institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on KNSL shares. Compass Point raised their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday. Truist Financial boosted their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research report on Monday. BMO Capital Markets upped their target price on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a research note on Tuesday. Bank of America began coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 target price for the company. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Kinsale Capital Group currently has an average rating of "Hold" and an average price target of $506.44.

Insiders Place Their Bets

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the transaction, the executive vice president directly owned 6,646 shares of the company's stock, valued at $3,136,912. This represents a 17.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Up 0.7%

KNSL traded up $2.96 on Friday, hitting $443.65. 83,583 shares of the company were exchanged, compared to its average volume of 208,585. The stock's fifty day moving average is $472.87 and its 200-day moving average is $462.26. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market cap of $10.34 billion, a PE ratio of 23.13, a PEG ratio of 1.65 and a beta of 1.19.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The business had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The firm's revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.75 EPS. 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. Investors of record on Friday, May 30th were issued a dividend of $0.17 per share. This represents a 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%.

About Kinsale Capital Group

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.