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

Atria Wealth Solutions Inc. cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL) by 41.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,850 shares of the financial services provider’s stock after selling 5,658 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Kinsale Capital Group were worth $2,629,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth approximately $25,000. Emerald Advisers LLC purchased a new position in Kinsale Capital Group in the third quarter worth approximately $33,000. Beacon Capital Management LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth approximately $33,000. Arlington Trust Co LLC purchased a new position in Kinsale Capital Group in the fourth quarter worth approximately $54,000. Finally, Milestone Investment Advisors LLC purchased a new position in Kinsale Capital Group in the third quarter worth approximately $58,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KNSL has been the subject of several analyst reports. BMO Capital Markets lowered Kinsale Capital Group from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $434.00 to $544.00 in a research report on Wednesday, February 28th. Royal Bank of Canada increased their price objective on Kinsale Capital Group from $410.00 to $555.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price objective on Kinsale Capital Group from $375.00 to $420.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Truist Financial increased their price objective on Kinsale Capital Group from $450.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $510.00.

Insider Activity

In other news, Director Frederick L. Jr. Russell sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at $464,867.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Kinsale Capital Group news, Director Frederick L. Jr. Russell sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $524.09, for a total value of $1,048,180.00. Following the sale, the director now directly owns 887 shares in the company, valued at $464,867.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Kehoe sold 4,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $523.73, for a total value of $2,094,920.00. Following the completion of the sale, the chief executive officer now owns 303,972 shares in the company, valued at $159,199,255.56. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Trading Down 17.3 %

KNSL opened at $374.64 on Monday. Kinsale Capital Group, Inc. has a 52 week low of $297.33 and a 52 week high of $548.47. The business has a fifty day simple moving average of $491.62 and a 200-day simple moving average of $415.56. The firm has a market cap of $8.69 billion, a P/E ratio of 24.89 and a beta of 0.89. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.16.

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 analysts’ expectations of $366.45 million. Kinsale Capital Group had a return on equity of 31.21% and a net margin of 26.33%. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 15.31 earnings per share for the current year.

Kinsale Capital Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.15 dividend. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Monday, February 26th. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 3.99%.

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.