Gregory M. Share, a director at Kinsale Capital Group, Inc. (NASDAQ:NYSE:KNSL), recently sold a portion of his holdings in the company. The insurance provider has demonstrated strong performance, with a 51.7% return over the past year and revenue growth of 36.1% according to InvestingPro data. According to a regulatory filing, Share sold 441 shares of common stock on December 5, 2024, at a price of $500.98 per share, totaling approximately $220,932. Following the transaction, Share now directly owns 2,025 shares of Kinsale Capital. Additionally, he holds an indirect interest of 30,000 shares through Ambina Capital Partners (WA:CPAP), LLC. With a market capitalization of $12.2 billion and trading near its InvestingPro Fair Value, Kinsale maintains a "GREAT" financial health score. Discover 11 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Kinsale Capital Group demonstrated robust performance with operating earnings per share increasing by 27% and gross written premiums rising by 19% compared to the same period last year. Morgan Stanley (NYSE:MS) initiated coverage of Kinsale Capital with an Overweight rating, highlighting the company's potential for expansion and high profitability. BMO Capital Markets, Truist Securities, RBC Capital, and Wolfe Research also updated their outlooks on Kinsale Capital, reflecting diverse perspectives on the company's financial health and future potential.
The company's board approved a $100 million share buyback program, indicating confidence in its future performance. Despite challenges such as increased competition and the impact of recent hurricanes, Kinsale anticipates continued growth in new business submissions with a long-term growth opportunity of 10% to 20%.
The 2024 earnings per share estimate for Kinsale Capital remains unchanged at $15.70, while the 2025 EPS forecast has been increased to $18.50 from $18.30. This shift reflects a slightly slower top-line growth of 16%, partially offset by investment income. These are all recent developments that are expected to shape the company's trajectory moving forward.
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