Grandeur Peak Global Advisors LLC bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,400 shares of the financial services provider’s stock, valued at approximately $462,000.
Several other institutional investors also recently added to or reduced their stakes in KNSL. AQR Capital Management LLC grew its holdings in Kinsale Capital Group by 76.2% during the first quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 361 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Kinsale Capital Group by 72.9% during the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider’s stock valued at $49,000 after buying an additional 43 shares during the period. Brown Advisory Inc. increased its holdings in Kinsale Capital Group by 7.9% during the 2nd quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 82 shares during the period. Jump Financial LLC increased its holdings in shares of Kinsale Capital Group by 136.9% in the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 634 shares during the period. Finally, Cerity Partners LLC increased its stake in Kinsale Capital Group by 45.3% in the 2nd quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider’s stock worth $2,430,000 after acquiring an additional 1,566 shares during the last quarter. Institutional investors own 85.36% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Kinsale Capital Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Morgan Stanley boosted their price objective on Kinsale Capital Group from $345.00 to $390.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. TD Cowen reaffirmed a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $368.78.
Insider Activity at Kinsale Capital Group
In related news, CAO Christopher R. Tangard purchased 330 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares of the company’s stock, valued at approximately $115,520. This represents a 660.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.
Kinsale Capital Group Trading Down 1.4%
Shares of NYSE KNSL opened at $381.66 on Friday. Kinsale Capital Group, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The stock has a market cap of $8.69 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.89. The firm has a 50-day moving average of $352.95 and a 200 day moving average of $344.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping the consensus estimate of $5.11 by $0.43. The business had revenue of $548.52 million for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. Kinsale Capital Group’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.78 earnings per share. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.
Kinsale Capital Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, August 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group’s payout ratio is currently 4.05%.
About Kinsale Capital Group
Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.
The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.
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