On September 12, 2023, Brian Haney, the Executive Vice President and Chief Operating Officer of Kinsale Capital Group Inc (KNSL, Financial), sold 1,500 shares of the company. This move is part of a series of insider transactions that have been taking place over the past year.
Kinsale Capital Group Inc is a specialty insurance group focused on the excess and surplus lines market. The company provides property, casualty, and specialty insurance products. It leverages an innovative approach to underwriting, claims handling, and risk management that provides market-leading service and value to its policyholders.
Over the past year, the insider has sold a total of 16,000 shares and has not made any purchases. This trend is mirrored in the company's overall insider transactions, with 19 insider sells and no insider buys over the same period.
The relationship between insider transactions and stock price is often closely watched by investors. In the case of Kinsale Capital Group Inc, the stock was trading at $414.6 per share on the day of the insider's recent sell, giving the company a market cap of $9.515 billion. This is a significant figure, especially considering the company's price-earnings ratio of 41.71, which is higher than both the industry median of 12.28 and the company's historical median.
The company's price-to-GF-Value ratio stands at 1.05, indicating that the stock is fairly valued based on its GF Value of $393.82. The GF Value is a proprietary estimate developed by GuruFocus, taking into account historical multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The recent sell by the insider does not necessarily indicate a negative outlook for the company. It is common for insiders to sell shares for personal reasons, such as diversifying their investment portfolio or meeting personal financial obligations. However, the lack of insider buys over the past year could be a point of concern for some investors.
In conclusion, while the insider's recent sell adds to the trend of insider sells over the past year, the company's strong market cap and fair valuation based on its GF Value suggest a stable outlook for Kinsale Capital Group Inc. Investors should continue to monitor insider transactions and other market indicators to make informed investment decisions.
