Institute for Wealth Management LLC. Acquires Shares of 848 Kinsale Capital Group, Inc. (NYSE:KNSL)

Institute for Wealth Management LLC. acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 848 shares of the financial services provider's stock, valued at approximately $413,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. LPL Financial LLC grew its position in Kinsale Capital Group by 29.4% during the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock worth $9,310,000 after purchasing an additional 4,644 shares during the period. California Public Employees Retirement System raised its position in Kinsale Capital Group by 11.8% during the fourth quarter. California Public Employees Retirement System now owns 39,341 shares of the financial services provider's stock valued at $18,299,000 after acquiring an additional 4,146 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in Kinsale Capital Group by 206.3% in the first quarter. Portside Wealth Group LLC now owns 1,835 shares of the financial services provider's stock valued at $893,000 after acquiring an additional 1,236 shares during the period. Merit Financial Group LLC purchased a new stake in Kinsale Capital Group in the 1st quarter worth approximately $441,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Kinsale Capital Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,445 shares of the financial services provider's stock worth $70,907,000 after purchasing an additional 3,970 shares in the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Insider Activity at Kinsale Capital Group

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

Kinsale Capital Group Stock Down 0.6%

Kinsale Capital Group stock opened at $461.57 on Friday. The firm has a market capitalization of $10.76 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.74 and a beta of 1.20. 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 twelve month low of $366.92 and a twelve month high of $531.79. The stock's fifty day simple moving average is $464.62 and its 200-day simple moving average is $461.11.

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

Kinsale Capital Group Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, May 29th. This represents a dividend yield of 0.15%. Kinsale Capital Group's payout ratio is 3.91%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial dropped their price target on shares of Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price target 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. Morgan Stanley upped their price target on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Wall Street Zen cut Kinsale Capital Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Kinsale Capital Group presently has an average rating of "Hold" and an average target price of $484.57.

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.

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