Lowe Brockenbrough & Co. Inc. Acquires 3,279 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Lowe Brockenbrough & Co. Inc. increased its stake in Kinsale Capital Group by 46.9% in the first quarter, adding 3,279 shares to bring its total holdings to 10,273 shares worth about $3.51 million.
• Insider activity was mixed: CEO Michael P. Kehoe sold 22,576 shares in May, while CAO Christopher R. Tangard bought 330 shares in June. Institutional investors still own about 85.36% of the stock.
• Kinsale reported strong quarterly results, with EPS of $5.11 beating estimates and revenue of $466.71 million topping expectations. The company also paid a $0.25 quarterly dividend, while analysts currently have a consensus rating of “Reduce” and an average target price of $375.80.

Lowe Brockenbrough & Co. Inc. lifted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 46.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,273 shares of the financial services provider's stock after buying an additional 3,279 shares during the quarter. Lowe Brockenbrough & Co. Inc.'s holdings in Kinsale Capital Group were worth $3,510,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KNSL. V Square Quantitative Management LLC bought a new stake in Kinsale Capital Group during the fourth quarter worth about $25,000. Bayban bought a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $25,000. eCIO Inc. purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in shares of Kinsale Capital Group during the fourth quarter valued at approximately $29,000. Finally, Johnson Financial Group Inc. boosted its position in shares of Kinsale Capital Group by 257.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after purchasing an additional 54 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael P. Kehoe sold 22,576 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the transaction, the chief executive officer owned 308,048 shares in the company, valued at $93,233,807.68. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares of the company's stock, valued at approximately $115,520. This represents a 660.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 5.60% of the company's stock.

Kinsale Capital Group Trading Down 0.1%

Shares of NYSE KNSL opened at $343.49 on Monday. The firm's 50 day moving average price is $317.62 and its 200-day moving average price is $350.92. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $512.76. 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 $7.92 billion, a PE ratio of 15.12, a P/E/G ratio of 1.11 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. During the same quarter last year, the firm earned $3.71 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Kinsale Capital Group, Inc. will post 20.71 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is presently 4.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings downgraded Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 26th. Morgan Stanley lowered their price objective on Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. Wells Fargo & Company boosted their target price on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Finally, Royal Bank Of Canada reduced their price target on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $375.80.

About Kinsale Capital Group

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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