Congress Wealth Management LLC DE Increases Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Congress Wealth Management LLC DE increased its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,883 shares of the financial services provider’s stock after buying an additional 1,025 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Kinsale Capital Group were worth $3,087,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co lifted its stake in shares of Kinsale Capital Group by 15.1% in the 1st quarter. Diversified Trust Co now owns 3,107 shares of the financial services provider’s stock worth $1,630,000 after acquiring an additional 408 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Kinsale Capital Group in the 1st quarter valued at approximately $266,000. Griffin Asset Management Inc. acquired a new position in Kinsale Capital Group during the first quarter worth $257,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Kinsale Capital Group by 7.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,056 shares of the financial services provider’s stock valued at $1,079,000 after acquiring an additional 150 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Kinsale Capital Group during the 1st quarter worth $283,000. Institutional investors and hedge funds own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Kinsale Capital Group from $544.00 to $453.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $425.00 price target (down previously from $555.00) on shares of Kinsale Capital Group in a research note on Monday, April 29th. Compass Point lowered their price target 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. TD Cowen initiated coverage on Kinsale Capital Group in a report on Monday, May 20th. They set a “hold” rating and a $403.00 price objective for the company. Finally, Truist Financial dropped their target price on shares of Kinsale Capital Group from $600.00 to $440.00 and set a “buy” rating for the company in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $434.00.

Insider Activity

In related news, COO Brian D. Haney sold 3,778 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $367.74, for a total transaction of $1,389,321.72. Following the transaction, the chief operating officer now directly owns 95,850 shares in the company, valued at $35,247,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Price Performance

Kinsale Capital Group stock opened at $391.71 on Tuesday. The stock has a market capitalization of $9.12 billion, a P/E ratio of 26.03 and a beta of 1.06. Kinsale Capital Group, Inc. has a 12-month low of $325.01 and a 12-month high of $548.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s 50-day moving average is $389.00 and its two-hundred day moving average is $420.82.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. The business had revenue of $372.79 million for 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 company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Equities analysts predict that Kinsale Capital Group, Inc. will post 14.94 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Friday, May 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.99%.

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.