Kinsale Capital president and chief operating officer sells more than $1.3 million in stock By Investing.com



Kinsale Capital Group, Inc. (NYSE: ) reports a major transaction involving its President and Chief Operating Officer Brian D. Haney. According to the latest filing, Haney sold a total of 3,778 shares of the company's common stock on April 30, 2024, with a total value of more than $1.3 million. The shares sold at prices ranging from $367.71 to $368.97.

On the same day, Haney also acquired 9,000 shares of Kinsale Capital common stock at a price of US$16.00 per share through the exercise of options, with a total transaction value of US$144,000. Notably, these options are part of an award payable in four equal installments per year starting on July 27, 2016.

Upon completion of these transactions, Haney's direct holdings in Kinsale Capital Group were adjusted to 95,850 common shares. In addition, his spouse indirectly holds 63,831 shares, according to filing details.

Investors and market watchers often view insider trading as a sign that executives are confident about their company's prospects. Such trades can provide valuable insights, although they should be viewed as part of a broader investment strategy.

Headquartered in Richmond, Virginia, Kinsale Capital Group, Inc. is known for providing casualty and property insurance products and services. The company has been a well-known player in the insurance industry and belongs to the fire, marine and casualty insurance segments.

The reported transactions have been filed with the U.S. Securities and Exchange Commission and are available for public review.

Investment Professional Insights

As Kinsale Capital Group, Inc. (NYSE: KNSL ) continues to make headlines for insider trading, the InvestingPro platform reveals the key financial metrics and analyst trends that matters to investors. The company has a market capitalization of $8.8 billion and a price-to-earnings ratio of 24.98, reflecting investors' views on its profit potential. Interestingly, the PEG ratio is at a low 0.27, suggesting Kinsale's earnings growth may not be fully reflected in its share price, indicating the potential for future appreciation.

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Recent performance data shows that Kinsale Capital's revenue grew by an impressive 45.44% in the past 12 months to the first quarter of 2024. Strong revenue growth and a gross profit margin of 26.15% highlight its financial strength and revenue-generating efficiency of its core business activities.

KNSL's InvestingPro Tips suggests that the stock is currently in oversold territory based on the RSI, which could signal a buying opportunity for contrarian investors. Additionally, the fact that Kinsale Capital has raised its dividend for the eighth consecutive year underscores its commitment to shareholder returns, despite six analysts lowering their profit forecasts for the period ahead.For investors looking for a more comprehensive analysis, there are additional tips available on InvestingPro that can be accessed using a coupon code PRONEWS24 Get an additional 10% off with yearly or annual Pro and Pro+ subscriptions.

These insights, coupled with the company's consistent dividend payments and profitability over the last twelve months, provide a nuanced view of Kinsale Capital's financial health beyond superficial insider trading activity. Investors can consider these factors as part of a broader investment strategy.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.





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