Legacy Wealth Asset Management LLC Reduces Stake in Kinsale Capital Group, Inc. (NYSE:KNSL)

Legacy Wealth Asset Management LLC lessened its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,743 shares of the financial services provider’s stock after selling 34 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Kinsale Capital Group were worth $811,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Argent Capital Management LLC bought a new stake in shares of Kinsale Capital Group during the 4th quarter valued at about $1,736,000. Outlook Wealth Advisors LLC bought a new stake in Kinsale Capital Group during the fourth quarter valued at approximately $459,000. Park Avenue Securities LLC increased its holdings in Kinsale Capital Group by 19.1% during the fourth quarter. Park Avenue Securities LLC now owns 2,670 shares of the financial services provider’s stock valued at $1,242,000 after buying an additional 429 shares during the last quarter. ORG Wealth Partners LLC raised its position in Kinsale Capital Group by 450.9% in the fourth quarter. ORG Wealth Partners LLC now owns 303 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 248 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kinsale Capital Group by 7.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,195 shares of the financial services provider’s stock worth $1,022,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.

Kinsale Capital Group Trading Up 0.4 %

KNSL stock opened at $437.92 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1-year low of $355.12 and a 1-year high of $548.47. The business has a 50 day simple moving average of $473.91 and a two-hundred day simple moving average of $455.88. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.52 and a beta of 1.16.

Kinsale Capital Group (NYSE:KNSL) last issued its earnings results on Thursday, October 24th. The financial services provider reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.60. The firm had revenue of $418.06 million during the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%. Kinsale Capital Group’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.31 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 15.66 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.14%. Kinsale Capital Group’s payout ratio is 3.42%.

Insider Transactions at Kinsale Capital Group

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the completion of the transaction, the director now directly owns 447 shares of the company’s stock, valued at approximately $223,191.57. This trade represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the sale, the executive vice president now directly owns 6,994 shares in the company, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock valued at $3,618,954. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on KNSL. Truist Financial reduced their price objective on Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley assumed coverage on shares of Kinsale Capital Group in a report on Thursday, December 5th. They issued an “overweight” rating and a $593.00 target price for the company. Jefferies Financial Group lifted their price target on shares of Kinsale Capital Group from $444.00 to $471.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Wolfe Research raised shares of Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 price objective for the company in a research note on Monday, October 28th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group presently has a consensus rating of “Hold” and an average price target of $468.89.

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.