Janney Montgomery Scott LLC Purchases 2,720 Shares of Kinsale Capital Group, Inc. $KNSL

Janney Montgomery Scott LLC increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 9.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,858 shares of the financial services provider’s stock after buying an additional 2,720 shares during the period. Janney Montgomery Scott LLC’s holdings in Kinsale Capital Group were worth $10,543,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of KNSL. Pictet Asset Management Holding SA increased its holdings in Kinsale Capital Group by 7.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,622 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 254 shares during the last quarter. Maridea Wealth Management LLC purchased a new stake in Kinsale Capital Group during the first quarter valued at about $1,160,000. J2 Capital Management Inc boosted its position in Kinsale Capital Group by 23.6% during the first quarter. J2 Capital Management Inc now owns 2,105 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 402 shares during the period. Louisiana State Employees Retirement System bought a new position in Kinsale Capital Group during the first quarter worth about $2,187,000. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Kinsale Capital Group by 31.5% in the first quarter. Kestra Private Wealth Services LLC now owns 1,567 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 2.5%

NYSE KNSL opened at $353.92 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $314.04 and its two-hundred day simple moving average is $354.92. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $512.76. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.11 and a beta of 0.90.

Kinsale Capital Group (NYSE:KNSL) last released its earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.Kinsale Capital Group’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.71 EPS. Research analysts forecast that Kinsale Capital Group, Inc. will post 20.65 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Michael P. Kehoe sold 22,576 shares of Kinsale Capital Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares of the company’s stock, valued at $93,233,807.68. The trade was a 6.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares of the company’s stock, valued at approximately $115,520. This trade represents a 660.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on KNSL shares. Wall Street Zen raised shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Truist Financial reduced their price objective 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. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Weiss Ratings cut shares of Kinsale Capital Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 26th. Finally, Cantor Fitzgerald cut their price target on Kinsale Capital Group from $360.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $374.90.

Kinsale Capital Group Company Profile

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.