Sheets Smith Wealth Management Grows Stock Position in Kinsale Capital Group Inc (NASDAQ:KNSL)

Sheets Smith Wealth Management grew its stake in Kinsale Capital Group Inc (NASDAQ:KNSL) by 67.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,780 shares of the financial services provider’s stock after purchasing an additional 3,943 shares during the period. Sheets Smith Wealth Management’s holdings in Kinsale Capital Group were worth $671,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Howland Capital Management LLC grew its position in Kinsale Capital Group by 14.0% in the 1st quarter. Howland Capital Management LLC now owns 134,173 shares of the financial services provider’s stock valued at $9,200,000 after acquiring an additional 16,519 shares in the last quarter. Northern Trust Corp grew its position in Kinsale Capital Group by 4.5% in the 4th quarter. Northern Trust Corp now owns 281,540 shares of the financial services provider’s stock valued at $15,643,000 after acquiring an additional 12,223 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Kinsale Capital Group by 6.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 276,564 shares of the financial services provider’s stock valued at $15,365,000 after acquiring an additional 17,045 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Kinsale Capital Group in the 4th quarter valued at about $614,000. Finally, Eaton Vance Management grew its position in Kinsale Capital Group by 1.9% in the 4th quarter. Eaton Vance Management now owns 86,729 shares of the financial services provider’s stock valued at $4,819,000 after acquiring an additional 1,637 shares in the last quarter. Institutional investors and hedge funds own 83.03% of the company’s stock.

In related news, Director Frederick L. Jr. Russell sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $67.93, for a total transaction of $67,930.00. Following the transaction, the director now owns 2,281 shares of the company’s stock, valued at $154,948.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick L. Jr. Russell sold 3,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $88.51, for a total value of $265,530.00. Following the transaction, the director now directly owns 1,170 shares in the company, valued at approximately $103,556.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,787 shares of company stock worth $2,385,247. 8.30% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on KNSL shares. BidaskClub downgraded Kinsale Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Zacks Investment Research upgraded Kinsale Capital Group from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Tuesday, May 7th. TheStreet upgraded Kinsale Capital Group from a “c+” rating to an “a-” rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada lifted their price objective on Kinsale Capital Group from $70.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Kinsale Capital Group currently has a consensus rating of “Buy” and a consensus target price of $83.67.

KNSL stock traded up $0.79 during trading on Friday, hitting $91.48. 249,135 shares of the company’s stock were exchanged, compared to its average volume of 91,495. The firm has a market capitalization of $1.93 billion, a PE ratio of 51.11 and a beta of 0.53. Kinsale Capital Group Inc has a 52-week low of $50.34 and a 52-week high of $93.55. The firm’s 50-day moving average price is $86.19.

Kinsale Capital Group (NASDAQ:KNSL) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The company had revenue of $72.19 million for the quarter, compared to analyst estimates of $62.98 million. Kinsale Capital Group had a return on equity of 16.77% and a net margin of 18.52%. Equities research analysts predict that Kinsale Capital Group Inc will post 2.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, June 3rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, May 31st. Kinsale Capital Group’s dividend payout ratio (DPR) is 17.88%.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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Institutional Ownership by Quarter for Kinsale Capital Group (NASDAQ:KNSL)

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