Kinsale Capital Group (NYSE:KNSL) CAO Buys $100,320.00 in Stock

Key Points

• Insider buying: Kinsale Capital Group CAO Christopher Tangard bought 330 shares at $304 each, a $100,320 transaction that increased his direct holdings to 380 shares.
• Stock and valuation backdrop: KNSL rose 1.4% to $303.26, with shares trading near the bottom of their 1-year range of $287.20 to $512.76. The company has a market cap of about $6.99 billion.
• Fundamentals and outlook: Kinsale beat quarterly earnings expectations with $5.11 EPS versus $4.70 expected and revenue of $466.71 million. Analysts currently rate the stock a consensus Hold, with a target price of $390.18.

Kinsale Capital Group, Inc. (NYSE:KNSL - Get Free Report) CAO Christopher Tangard bought 330 shares of the firm's stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $304.00 per share, with a total value of $100,320.00. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kinsale Capital Group Trading Up 1.4%

NYSE:KNSL traded up $4.19 on Tuesday, reaching $303.26. 192,677 shares of the stock traded hands, compared to its average volume of 270,182. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company's 50 day moving average is $326.22 and its 200-day moving average is $362.52. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.41. The business had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a net margin of 27.48% and a return on equity of 25.82%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.71 EPS. Equities research analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio (DPR) is 4.40%.

Institutional Trading of Kinsale Capital Group

Several hedge funds have recently bought and sold shares of KNSL. Life Cycle Investment Partners Ltd acquired a new stake in Kinsale Capital Group in the 4th quarter valued at $229,653,000. Capital World Investors grew its position in Kinsale Capital Group by 117.4% in the 4th quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock valued at $386,366,000 after purchasing an additional 533,499 shares during the period. Norges Bank acquired a new stake in Kinsale Capital Group in the 4th quarter valued at $107,916,000. Bank of America Corp DE grew its position in Kinsale Capital Group by 89.0% in the 1st quarter. Bank of America Corp DE now owns 285,535 shares of the financial services provider's stock valued at $97,556,000 after purchasing an additional 134,468 shares during the period. Finally, Turtle Creek Asset Management Inc. grew its position in Kinsale Capital Group by 47.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 411,246 shares of the financial services provider's stock valued at $140,506,000 after purchasing an additional 132,576 shares during the period. Institutional investors and hedge funds own 85.36% of the company's stock.

Analysts Set New Price Targets

KNSL has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of Kinsale Capital Group from a "hold" rating to an "underperform" rating and reduced their price objective for the stock from $392.00 to $312.00 in a research report on Thursday, March 19th. BMO Capital Markets downgraded shares of Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective for the company. in a research report on Wednesday, February 25th. Cantor Fitzgerald reduced their price objective on shares of Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Royal Bank Of Canada reduced their price objective on shares of Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. Finally, Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $390.18.

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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