Absher Wealth Management LLC Makes New Investment in Kinsale Capital Group, Inc. $KNSL

Absher Wealth Management LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,673 shares of the financial services provider’s stock, valued at approximately $1,255,000.

A number of other institutional investors also recently modified their holdings of KNSL. Procyon Advisors LLC boosted its position in shares of Kinsale Capital Group by 9.3% during the 1st quarter. Procyon Advisors LLC now owns 610 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 52 shares in the last quarter. Diversify Wealth Management LLC raised its stake in Kinsale Capital Group by 225.8% during the 1st quarter. Diversify Wealth Management LLC now owns 6,392 shares of the financial services provider’s stock worth $2,116,000 after buying an additional 4,430 shares during the period. Carnegie Investment Counsel boosted its holdings in Kinsale Capital Group by 1.9% in the first quarter. Carnegie Investment Counsel now owns 62,897 shares of the financial services provider’s stock worth $21,489,000 after acquiring an additional 1,159 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Kinsale Capital Group by 1,753.3% in the first quarter. Fifth Third Bancorp now owns 7,543 shares of the financial services provider’s stock worth $2,577,000 after acquiring an additional 7,136 shares in the last quarter. Finally, Peterson Wealth Services grew its stake in Kinsale Capital Group by 5.8% in the first quarter. Peterson Wealth Services now owns 1,833 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of several recent research reports. Weiss Ratings downgraded Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Jefferies Financial Group cut Kinsale Capital Group from a “hold” rating to an “underperform” rating and cut their target price for the stock from $392.00 to $312.00 in a report on Thursday, March 19th. Truist Financial decreased their price target on shares of Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the company an “equal weight” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Kinsale Capital Group currently has a consensus rating of “Reduce” and a consensus price target of $375.80.

Kinsale Capital Group Price Performance

KNSL opened at $340.94 on Monday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $512.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.10 and a beta of 0.90. The firm’s fifty day moving average price is $314.91 and its two-hundred day moving average price is $353.02.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 EPS 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 in the prior year, the company posted $3.71 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts anticipate that Kinsale Capital Group, Inc. will post 20.67 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

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

Insider Buying and Selling at Kinsale Capital Group

In other news, insider Salmaan K. Allibhai sold 250 shares of the company’s 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 represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer directly owned 380 shares of the company’s stock, valued at $115,520. The trade was a 660.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

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.