Ashton Thomas Private Wealth LLC Purchases New Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Ashton Thomas Private Wealth LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,016 shares of the financial services provider’s stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KNSL. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Kinsale Capital Group in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new position in Kinsale Capital Group in the 4th quarter valued at about $31,000. Allworth Financial LP grew its stake in Kinsale Capital Group by 450.0% in the 4th quarter. Allworth Financial LP now owns 88 shares of the financial services provider’s stock valued at $39,000 after buying an additional 72 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Kinsale Capital Group in the 4th quarter valued at about $46,000. Finally, UMB Bank n.a. boosted its holdings in Kinsale Capital Group by 67.2% in the 4th quarter. UMB Bank n.a. now owns 102 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KNSL. JPMorgan Chase & Co. cut their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a report on Friday, February 14th. Truist Financial boosted their price objective on shares of Kinsale Capital Group from $480.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Morgan Stanley cut their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, BMO Capital Markets boosted their price objective on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the company a “market perform” rating in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Kinsale Capital Group has a consensus rating of “Hold” and a consensus target price of $468.56.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares in the company, valued at $3,566,940. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Performance

Shares of Kinsale Capital Group stock opened at $449.05 on Tuesday. The company has a 50 day moving average of $443.66 and a 200-day moving average of $462.13. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $536.84. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $10.45 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.39. Kinsale Capital Group had a net margin of 26.13% and a return on equity of 28.04%. The company had revenue of $412.12 million during the quarter, compared to the consensus estimate of $418.32 million. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current fiscal year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s dividend payout ratio is currently 3.82%.

About Kinsale Capital Group

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.