Maridea Wealth Management LLC Purchases New Shares in Kinsale Capital Group, Inc. $KNSL

Key Points

• Maridea Wealth Management opened a new position in Kinsale Capital Group in the first quarter, buying 3,396 shares valued at about $1.16 million.
• Wall Street sentiment has turned cautious: several brokerages cut price targets or downgraded KNSL, and the stock now carries a consensus “Reduce” rating with an average target of $374.90.
• Kinsale reported strong quarterly earnings on April 23, with EPS of $5.11 beating estimates and revenue of $466.71 million topping expectations, even as the stock traded at $327.79 and paid a quarterly dividend of $0.25 per share.

Maridea Wealth Management LLC purchased a new position 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 (SEC). The institutional investor purchased 3,396 shares of the financial services provider's stock, valued at approximately $1,160,000.

Other institutional investors have also added to or reduced their stakes in the company. Bayban bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in shares of Kinsale Capital Group in the 4th quarter worth about $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the 4th quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in Kinsale Capital Group during the 4th quarter valued at about $29,000. Finally, Johnson Financial Group Inc. lifted its position in Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 54 shares during the period. Institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KNSL. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating on the stock in a report on Thursday, May 21st. Weiss Ratings downgraded Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Cantor Fitzgerald cut their target price on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Wells Fargo & Company downgraded Kinsale Capital Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $420.00 to $357.00 in a report on Monday, April 27th. Finally, Truist Financial lowered their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating for the company in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of "Reduce" and an average price target of $374.90.

Kinsale Capital Group Stock Up 6.3%

Kinsale Capital Group stock opened at $327.79 on Friday. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The stock has a fifty day simple moving average of $315.58 and a two-hundred day simple moving average of $356.09. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.06 and a beta of 0.91.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. During the same period last year, the company earned $3.71 EPS. Kinsale Capital Group's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Kinsale Capital Group, Inc. will post 20.65 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Insiders Place Their Bets

In other Kinsale Capital Group news, insider Salmaan K. Allibhai sold 250 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. The trade was a 6.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction dated Monday, June 8th. The shares were purchased 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 directly owned 380 shares in the company, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

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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