Kinsale Capital Group (NASDAQ:KNSL) Sees Large Volume Increase

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Kinsale Capital Group Inc (NASDAQ:KNSL) saw unusually-strong trading volume on Wednesday . Approximately 1,063,600 shares changed hands during trading, an increase of 863% from the previous session’s volume of 110,413 shares.The stock last traded at $98.76 and had previously closed at $88.98.

Several equities analysts have recently issued reports on KNSL shares. BidaskClub cut Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research cut Kinsale Capital Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. ValuEngine cut Kinsale Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JMP Securities started coverage on Kinsale Capital Group in a research note on Friday, September 6th. They set a “market perform” rating on the stock. Finally, UBS Group boosted their target price on Kinsale Capital Group to $112.00 and gave the company a “positive” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $100.00.

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market capitalization of $1.94 billion, a PE ratio of 55.17 and a beta of 0.49. The company has a 50 day moving average price of $100.94 and a 200-day moving average price of $93.13.

Kinsale Capital Group (NASDAQ:KNSL) last posted its earnings results on Friday, November 1st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). Kinsale Capital Group had a net margin of 17.83% and a return on equity of 15.68%. The business had revenue of $78.33 million for the quarter, compared to analysts’ expectations of $76.24 million. As a group, equities analysts anticipate that Kinsale Capital Group Inc will post 2.4 earnings per share for the current year.

In related news, CEO Michael P. Kehoe sold 10,000 shares of Kinsale Capital Group stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $93.52, for a total transaction of $935,200.00. Following the sale, the chief executive officer now directly owns 357,711 shares in the company, valued at $33,453,132.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian D. Haney sold 2,250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $94.65, for a total value of $212,962.50. Following the sale, the chief operating officer now owns 177,249 shares in the company, valued at $16,776,617.85. The disclosure for this sale can be found here. Insiders have sold 25,750 shares of company stock worth $2,521,668 over the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation N.A. boosted its position in shares of Kinsale Capital Group by 6.5% during the second quarter. Zions Bancorporation N.A. now owns 3,494 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 214 shares in the last quarter. Stanley Laman Group Ltd. boosted its holdings in Kinsale Capital Group by 2.0% in the second quarter. Stanley Laman Group Ltd. now owns 11,865 shares of the financial services provider’s stock worth $1,085,000 after acquiring an additional 231 shares in the last quarter. Advisor Group Inc. boosted its holdings in Kinsale Capital Group by 2,241.7% in the second quarter. Advisor Group Inc. now owns 281 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 269 shares in the last quarter. Aperio Group LLC boosted its holdings in Kinsale Capital Group by 7.4% in the second quarter. Aperio Group LLC now owns 4,299 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 297 shares in the last quarter. Finally, Quantamental Technologies LLC boosted its holdings in Kinsale Capital Group by 37.7% in the second quarter. Quantamental Technologies LLC now owns 1,085 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 297 shares in the last quarter. Institutional investors own 79.31% of the company’s stock.

About Kinsale Capital Group (NASDAQ:KNSL)

Kinsale Capital Group, Inc provides as a casualty and property insurance products in the United States. Its commercial lines offerings include construction, small business, energy, excess and general casualty, life sciences, allied health, health care, commercial property, environmental, public entity, inland marine, and commercial insurance, as well as product, professional, and management liability insurance; and homeowners insurance.

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