Atria Wealth Solutions Inc. Decreases Stock Position in Kinsale Capital Group, Inc. (NYSE:KNSL)

Atria Wealth Solutions Inc. lessened its stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 35.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,770 shares of the financial services provider’s stock after selling 982 shares during the period. Atria Wealth Solutions Inc.’s holdings in Kinsale Capital Group were worth $861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KNSL. Raymond James Financial Inc. purchased a new stake in Kinsale Capital Group during the 4th quarter valued at $18,323,000. Treasurer of the State of North Carolina grew its position in Kinsale Capital Group by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 9,680 shares of the financial services provider’s stock valued at $4,502,000 after acquiring an additional 55 shares during the last quarter. Townsquare Capital LLC grew its position in Kinsale Capital Group by 23.1% in the 4th quarter. Townsquare Capital LLC now owns 7,776 shares of the financial services provider’s stock valued at $3,617,000 after acquiring an additional 1,459 shares during the last quarter. Barclays PLC grew its position in Kinsale Capital Group by 58.2% in the 4th quarter. Barclays PLC now owns 18,629 shares of the financial services provider’s stock valued at $8,666,000 after acquiring an additional 6,857 shares during the last quarter. Finally, Mariner LLC grew its position in Kinsale Capital Group by 3.6% in the 4th quarter. Mariner LLC now owns 3,143 shares of the financial services provider’s stock valued at $1,462,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 85.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KNSL. Morgan Stanley upped their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Truist Financial upped their price objective on Kinsale Capital Group from $500.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Compass Point upped their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Bank of America began coverage on Kinsale Capital Group in a research report on Friday, June 20th. They issued a “buy” rating and a $543.00 price objective on the stock. Finally, Wall Street Zen raised Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Sunday, June 22nd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $506.44.

Kinsale Capital Group Trading Down 0.5%

Shares of NYSE KNSL opened at $436.67 on Tuesday. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $469.11 and a 200-day simple moving average of $462.95. The stock has a market capitalization of $10.17 billion, a PE ratio of 22.78, a PEG ratio of 1.62 and a beta of 1.12.

Kinsale Capital Group (NYSE:KNSL) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The business had revenue of $458.70 million during the quarter, compared to analysts’ expectations of $436.25 million. During the same period in the previous year, the firm posted $3.75 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.17 dividend. This represents a dividend yield of 15.0%. The ex-dividend date of this dividend was Thursday, May 29th. Kinsale Capital Group’s payout ratio is presently 3.55%.

Insider Buying and Selling at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total transaction of $659,856.00. Following the completion of the sale, the executive vice president directly owned 6,646 shares of the company’s stock, valued at $3,136,912. This represents a 17.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% 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.