Wilmington Savings Fund Society FSB Acquires New Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Wilmington Savings Fund Society FSB bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 855 shares of the financial services provider’s stock, valued at approximately $398,000.

A number of other institutional investors have also recently modified their holdings of KNSL. Sanctuary Advisors LLC grew its holdings in shares of Kinsale Capital Group by 34.8% during the third quarter. Sanctuary Advisors LLC now owns 1,731 shares of the financial services provider’s stock valued at $863,000 after buying an additional 447 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in Kinsale Capital Group by 13.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 1,093 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 130 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Kinsale Capital Group by 5.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,444 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 74 shares during the last quarter. Synergy Financial Group LTD increased its holdings in shares of Kinsale Capital Group by 4.0% in the 3rd quarter. Synergy Financial Group LTD now owns 2,448 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 95 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Kinsale Capital Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 528,708 shares of the financial services provider’s stock worth $246,810,000 after purchasing an additional 29,686 shares during the last quarter. 85.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kinsale Capital Group

In related news, Director James Joseph Ritchie sold 2,295 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares in the company, valued at approximately $3,672,456.92. This trade represents a 23.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick L. Jr. Russell sold 4,440 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,235 shares of company stock valued at $3,618,954 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Kinsale Capital Group Trading Down 0.9 %

Shares of KNSL stock opened at $502.07 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.19 and a beta of 1.13. Kinsale Capital Group, Inc. has a 1 year low of $325.01 and a 1 year high of $548.47. The firm has a fifty day moving average price of $475.35 and a 200-day moving average price of $446.69.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.60. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The business had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. During the same quarter in the previous year, the company posted $3.31 earnings per share. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Friday, November 29th. Kinsale Capital Group’s payout ratio is 3.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial reduced their price objective on Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a report on Monday, October 28th. BMO Capital Markets lifted their price target on shares of Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Wolfe Research upgraded shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective on the stock in a research report on Monday, October 28th. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating for the company in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $472.00.

Kinsale Capital Group Profile

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.