Merit Financial Group LLC Takes Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Merit Financial Group LLC acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 906 shares of the financial services provider's stock, valued at approximately $441,000.

A number of other hedge funds have also bought and sold shares of the business. Wilmington Savings Fund Society FSB grew its stake in shares of Kinsale Capital Group by 13.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 968 shares of the financial services provider's stock worth $450,000 after acquiring an additional 113 shares during the period. Empowered Funds LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth approximately $1,071,000. Entropy Technologies LP bought a new stake in Kinsale Capital Group in the 4th quarter worth approximately $1,416,000. Stephens Inc. AR grew its position in Kinsale Capital Group by 17.7% in the 4th quarter. Stephens Inc. AR now owns 1,090 shares of the financial services provider's stock worth $507,000 after purchasing an additional 164 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in Kinsale Capital Group by 35.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 1,680 shares of the financial services provider's stock valued at $781,000 after buying an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Activity

In related news, EVP Diane D. Schnupp sold 1,398 shares of the business'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 value of $659,856.00. Following the transaction, the executive vice president now directly owns 6,646 shares of the company's stock, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.50% of the company's stock.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL traded up $0.75 during trading on Friday, hitting $474.69. The company had a trading volume of 146,998 shares, compared to its average volume of 173,881. Kinsale Capital Group, Inc. has a 12 month low of $366.92 and a 12 month high of $531.79. The firm has a market capitalization of $11.07 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.20. The stock has a 50 day simple moving average of $463.82 and a 200 day simple moving average of $462.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $3.71 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.56. The business had revenue of $423.40 million during the quarter, compared to analyst estimates of $425.73 million. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.50 earnings per share. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KNSL shares. Truist Financial dropped their price target on Kinsale Capital Group from $525.00 to $500.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. JMP Securities reissued a "market perform" rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $500.00 target price on shares of Kinsale Capital Group in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Kinsale Capital Group from $402.00 to $400.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley raised their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.