Atria Wealth Solutions Inc. Reduces Stock Position in Kinsale Capital Group, Inc. $KNSL

Atria Wealth Solutions Inc. reduced its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 18.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,438 shares of the financial services provider’s stock after selling 332 shares during the period. Atria Wealth Solutions Inc.’s holdings in Kinsale Capital Group were worth $696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Kinsale Capital Group by 10.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider’s stock worth $1,272,000 after buying an additional 254 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in Kinsale Capital Group by 111.5% during the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider’s stock valued at $2,446,000 after purchasing an additional 2,650 shares during the last quarter. M&T Bank Corp grew its holdings in Kinsale Capital Group by 43.4% during the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider’s stock valued at $1,787,000 after purchasing an additional 1,111 shares during the last quarter. Artemis Investment Management LLP raised its position in Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider’s stock worth $39,387,000 after purchasing an additional 24,681 shares during the period. Finally, Moody Aldrich Partners LLC purchased a new stake in Kinsale Capital Group in the 1st quarter worth about $270,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KNSL. Truist Financial boosted their target price 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. Morgan Stanley decreased their price target on Kinsale Capital Group from $525.00 to $500.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. BMO Capital Markets raised their price target on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 29th. Cantor Fitzgerald raised Kinsale Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Finally, Compass Point raised their price target on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $506.89.

Kinsale Capital Group Trading Up 2.0%

KNSL opened at $447.12 on Friday. The stock’s fifty day moving average is $446.86 and its two-hundred day moving average is $459.74. The company has a market capitalization of $10.42 billion, a P/E ratio of 23.32, a PEG ratio of 1.65 and a beta of 1.09. Kinsale Capital Group, Inc. has a 52 week low of $405.00 and a 52 week high of $531.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $436.25 million. During the same period last year, the business posted $3.75 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. Analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group’s dividend payout ratio (DPR) is currently 3.55%.

Kinsale Capital Group 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.