Gallacher Capital Management LLC Buys Shares of 914 Kinsale Capital Group, Inc. (NYSE:KNSL)

Gallacher Capital Management LLC purchased a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 914 shares of the financial services provider’s stock, valued at approximately $306,000.

Several other hedge funds have also recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in Kinsale Capital Group during the 4th quarter worth $25,000. Emerald Advisers LLC purchased a new position in Kinsale Capital Group during the third quarter worth about $33,000. Beacon Capital Management LLC acquired a new stake in Kinsale Capital Group in the fourth quarter valued at about $33,000. Arlington Trust Co LLC purchased a new stake in Kinsale Capital Group in the 4th quarter valued at approximately $54,000. Finally, Milestone Investment Advisors LLC acquired a new position in Kinsale Capital Group during the 3rd quarter worth approximately $58,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Price Performance

Shares of NYSE KNSL traded up $11.61 during trading on Monday, reaching $393.98. The company had a trading volume of 234,877 shares, compared to its average volume of 203,976. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $9.17 billion, a PE ratio of 25.41 and a beta of 0.98. Kinsale Capital Group, Inc. has a twelve month low of $297.33 and a twelve month high of $548.47. The stock has a 50-day moving average price of $478.52 and a two-hundred day moving average price of $413.02.

Kinsale Capital Group (NYSE:KNSL) last announced its earnings results on Thursday, April 25th. The financial services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $372.79 million during the quarter, compared to the consensus estimate of $366.45 million. Kinsale Capital Group had a net margin of 26.33% and a return on equity of 31.21%. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 EPS. As a group, sell-side analysts predict that Kinsale Capital Group, Inc. will post 15.03 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a $0.15 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Monday, February 26th. Kinsale Capital Group’s payout ratio is presently 3.99%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KNSL. Compass Point dropped their price objective on Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $425.00 price objective (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Truist Financial decreased their price objective on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, April 29th. BMO Capital Markets dropped their target price on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average target price of $438.43.

Insider Buying and Selling at Kinsale Capital Group

In other news, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Brian D. Haney sold 3,778 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the completion of the transaction, the chief operating officer now owns 95,850 shares of the company’s stock, valued at $35,247,879. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Kehoe sold 4,000 shares of Kinsale Capital Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total transaction of $2,094,920.00. Following the completion of the transaction, the chief executive officer now owns 303,972 shares in the company, valued at approximately $159,199,255.56. The disclosure for this sale can be found here. In the last three months, insiders sold 9,778 shares of company stock worth $4,532,422. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company 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.