Evermay Wealth Management LLC Takes $66,000 Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Posted by Defense World Staff on Mar 27th, 2023

Evermay Wealth Management LLC bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 253 shares of the financial services provider’s stock, valued at approximately $66,000.

Several other hedge funds have also recently made changes to their positions in KNSL. CIBC Private Wealth Group LLC purchased a new position in shares of Kinsale Capital Group during the third quarter valued at approximately $58,191,000. Baird Financial Group Inc. purchased a new position in shares of Kinsale Capital Group during the third quarter valued at approximately $36,844,000. Victory Capital Management Inc. grew its stake in Kinsale Capital Group by 83.6% in the third quarter. Victory Capital Management Inc. now owns 307,549 shares of the financial services provider’s stock worth $78,555,000 after purchasing an additional 140,037 shares during the period. Riverbridge Partners LLC purchased a new stake in Kinsale Capital Group in the fourth quarter worth $33,543,000. Finally, Macquarie Group Ltd. grew its stake in Kinsale Capital Group by 33.5% in the second quarter. Macquarie Group Ltd. now owns 446,626 shares of the financial services provider’s stock worth $102,563,000 after purchasing an additional 112,060 shares during the period. 85.97% of the stock is owned by hedge funds and other institutional investors.

Kinsale Capital Group Trading Up 1.0 %

NYSE KNSL opened at $288.20 on Monday. Kinsale Capital Group, Inc. has a 12 month low of $196.00 and a 12 month high of $337.11. The stock has a market cap of $6.66 billion, a P/E ratio of 41.89 and a beta of 0.87. The stock’s fifty day moving average price is $296.19 and its 200-day moving average price is $288.56. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.26.

Kinsale Capital Group (NYSE:KNSL – Get Rating) last released its earnings results on Friday, February 17th. The financial services provider reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.44. The firm had revenue of $242.96 million for the quarter, compared to analysts’ expectations of $236.01 million. Kinsale Capital Group had a return on equity of 27.08% and a net margin of 19.42%. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 9.86 EPS for the current fiscal year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Tuesday, February 28th were issued a $0.14 dividend. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, February 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.19%. Kinsale Capital Group’s dividend payout ratio is currently 8.14%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, CFO Bryan P. Petrucelli sold 10,000 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $322.66, for a total value of $3,226,600.00. Following the transaction, the chief financial officer now owns 59,146 shares of the company’s stock, valued at $19,084,048.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Kinsale Capital Group news, CFO Bryan P. Petrucelli sold 10,000 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $322.66, for a total value of $3,226,600.00. Following the transaction, the chief financial officer now owns 59,146 shares of the company’s stock, valued at $19,084,048.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne C. Kronenberg sold 930 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $311.40, for a total value of $289,602.00. Following the completion of the transaction, the director now directly owns 9,292 shares in the company, valued at approximately $2,893,528.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,180 shares of company stock valued at $6,454,792. 6.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KNSL. Royal Bank of Canada upped their price target on Kinsale Capital Group from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. Compass Point cut Kinsale Capital Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $330.00 to $350.00 in a research note on Tuesday, February 21st. Jefferies Financial Group began coverage on Kinsale Capital Group in a research note on Monday, December 12th. They issued a “hold” rating and a $295.00 price target on the stock. Truist Financial upped their price target on Kinsale Capital Group from $335.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Finally, BMO Capital Markets began coverage on Kinsale Capital Group in a research note on Thursday, January 19th. They issued an “underperform” rating and a $230.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two 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 price target of $327.00.

Kinsale Capital Group Profile

(Get Rating)

Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.