Institute for Wealth Management LLC. Makes New Investment in Kinsale Capital Group, Inc. (NYSE:KNSL)

Institute for Wealth Management LLC. bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 848 shares of the financial services provider's stock, valued at approximately $413,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its holdings in shares of Kinsale Capital Group by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 2,591 shares of the financial services provider's stock worth $1,261,000 after purchasing an additional 65 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Kinsale Capital Group by 9.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 596 shares of the financial services provider's stock worth $290,000 after purchasing an additional 53 shares in the last quarter. Strategic Advisors LLC grew its holdings in shares of Kinsale Capital Group by 0.6% during the first quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after purchasing an additional 30 shares in the last quarter. Precision Wealth Strategies LLC purchased a new position in shares of Kinsale Capital Group during the first quarter worth about $338,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Kinsale Capital Group by 3.9% during the first quarter. Janney Montgomery Scott LLC now owns 36,736 shares of the financial services provider's stock worth $17,880,000 after purchasing an additional 1,374 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Trading Up 0.7%

KNSL stock traded up $3.39 during midday trading on Monday, hitting $479.46. The company had a trading volume of 188,319 shares, compared to its average volume of 175,903. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.12. Kinsale Capital Group, Inc. has a 52 week low of $366.92 and a 52 week high of $531.79. The stock's 50 day moving average price is $464.49 and its 200 day moving average price is $460.42. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.80 and a beta of 1.20.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.56. Kinsale Capital Group had a return on equity of 26.36% and a net margin of 24.73%. The firm had revenue of $423.40 million during the quarter, compared to the consensus estimate of $425.73 million. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 0.15%. Kinsale Capital Group's payout ratio is currently 3.91%.

Analysts Set New Price Targets

Several analysts have issued reports on KNSL shares. Truist Financial cut their target price on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their target price on Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday. Morgan Stanley upped their target price on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Bank of America started coverage on Kinsale Capital Group in a research note on Friday. They issued a "buy" rating and a $543.00 target price for the company. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kinsale Capital Group presently has a consensus rating of "Hold" and a consensus target price of $491.88.

Insider Activity at Kinsale Capital Group

In related news, EVP Diane D. Schnupp sold 1,398 shares of the company'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 completion of the transaction, the executive vice president now owns 6,646 shares in the company, valued at $3,136,912. This represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is owned by corporate insiders.

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.