HighTower Advisors LLC Has $2.04 Million Stock Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• HighTower Advisors LLC reduced its holdings in Kinsale Capital Group by 57.4%, leaving them with 4,183 shares worth approximately $2,036,000.
• Analysts have shown confidence in Kinsale Capital Group by raising price targets, with some firms recommending it as a buy and others setting a consensus target price of $505.80.
• The company announced a quarterly dividend of $0.17 per share, to be paid on September 11th, reflecting a dividend yield of 0.1%.

HighTower Advisors LLC lowered its stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 57.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,183 shares of the financial services provider's stock after selling 5,637 shares during the quarter. HighTower Advisors LLC's holdings in Kinsale Capital Group were worth $2,036,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in KNSL. Key Financial Inc lifted its stake in shares of Kinsale Capital Group by 315.4% in the 1st quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 41 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Kinsale Capital Group in the 1st quarter valued at $31,000. NBC Securities Inc. acquired a new position in shares of Kinsale Capital Group in the 1st quarter valued at $35,000. von Borstel & Associates Inc. acquired a new stake in Kinsale Capital Group during the 1st quarter worth $42,000. Finally, Anderson Financial Strategies LLC bought a new position in Kinsale Capital Group during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.1%

Shares of KNSL traded up $0.57 during midday trading on Friday, hitting $455.89. The stock had a trading volume of 20,911 shares, compared to its average volume of 205,254. The company has a 50 day simple moving average of $465.25 and a two-hundred day simple moving average of $462.18. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%.The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same quarter last year, the business posted $3.75 EPS. The company's revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.1%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley lifted their target price 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 lifted their target price on Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 28th. BMO Capital Markets lifted their target price on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. Cantor Fitzgerald upgraded Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Bank of America assumed coverage on Kinsale Capital Group in a report on Friday, June 20th. They set a "buy" rating and a $543.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $505.80.

Insider Activity

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction dated 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 owned 6,646 shares of the company's stock, valued at $3,136,912. This trade represents a 17.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.