Spire Wealth Management Reduces Holdings in Kinsale Capital Group, Inc. $KNSL

by · The Cerbat Gem

Spire Wealth Management lowered its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) by 94.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485 shares of the financial services provider’s stock after selling 8,531 shares during the period. Spire Wealth Management’s holdings in Kinsale Capital Group were worth $206,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KNSL. SkyOak Wealth LLC raised its position in shares of Kinsale Capital Group by 5.0% during the 3rd quarter. SkyOak Wealth LLC now owns 654 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 31 shares during the last quarter. Park Avenue Securities LLC increased its position in Kinsale Capital Group by 16.3% during the third quarter. Park Avenue Securities LLC now owns 3,086 shares of the financial services provider’s stock worth $1,312,000 after buying an additional 433 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of Kinsale Capital Group in the third quarter worth $242,000. Mather Group LLC. acquired a new position in shares of Kinsale Capital Group in the third quarter worth $75,000. Finally, Ascent Group LLC lifted its position in shares of Kinsale Capital Group by 26.4% in the third quarter. Ascent Group LLC now owns 16,148 shares of the financial services provider’s stock valued at $6,867,000 after acquiring an additional 3,375 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Kinsale Capital Group Trading Down 1.8%

Shares of KNSL stock opened at $390.49 on Tuesday. The firm’s 50-day simple moving average is $387.81 and its 200-day simple moving average is $429.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09. Kinsale Capital Group, Inc. has a 1-year low of $349.00 and a 1-year high of $512.76. The firm has a market cap of $9.08 billion, a P/E ratio of 19.18, a PEG ratio of 1.40 and a beta of 1.00.

Kinsale Capital Group (NYSE:KNSL – Get Free Report) last released its earnings results on Thursday, October 23rd. The financial services provider reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.79 by $0.42. Kinsale Capital Group had a net margin of 26.30% and a return on equity of 25.66%. The firm had revenue of $497.51 million during the quarter, compared to the consensus estimate of $446.00 million. During the same period in the previous year, the firm earned $4.20 earnings per share. Kinsale Capital Group’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group declared that its Board of Directors has authorized a share buyback plan on Thursday, December 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 28th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, November 28th. Kinsale Capital Group’s dividend payout ratio is presently 3.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada assumed coverage on Kinsale Capital Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $415.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinsale Capital Group in a research report on Monday, December 29th. TD Cowen decreased their target price on shares of Kinsale Capital Group from $448.00 to $442.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on Kinsale Capital Group from $460.00 to $450.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $483.78.

Get Our Latest Analysis on KNSL

Kinsale Capital Group Profile

(Free Report)

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.

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