HB Wealth Management LLC Reduces Holdings in Kinsale Capital Group, Inc. $KNSL

HB Wealth Management LLC reduced its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 29.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,514 shares of the financial services provider’s stock after selling 1,842 shares during the period. HB Wealth Management LLC’s holdings in Kinsale Capital Group were worth $1,543,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in KNSL. Bayban acquired a new position in Kinsale Capital Group in the 4th quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinsale Capital Group during the fourth quarter valued at about $25,000. eCIO Inc. purchased a new stake in shares of Kinsale Capital Group during the fourth quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group in the fourth quarter worth about $29,000. Finally, Johnson Financial Group Inc. boosted its holdings in Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, CAO Christopher R. Tangard purchased 330 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at approximately $115,520. This represents a 660.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares of the company’s stock, valued at $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Shares of NYSE:KNSL opened at $348.91 on Wednesday. The company has a market cap of $8.05 billion, a PE ratio of 15.36, a P/E/G ratio of 1.12 and a beta of 0.90. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The firm has a 50-day simple moving average of $314.17 and a 200 day simple moving average of $354.18. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.71 earnings per share. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 20.65 EPS for the current year.

Kinsale Capital Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KNSL. Morgan Stanley dropped their price objective on 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. Wells Fargo & Company cut shares of Kinsale Capital Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $420.00 to $357.00 in a report on Monday, April 27th. Weiss Ratings lowered shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $374.90.

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.