Sanctuary Advisors LLC purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,623 shares of the financial services provider’s stock, valued at approximately $535,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Kinsale Capital Group in the second quarter worth $671,457,000. Life Cycle Investment Partners Ltd purchased a new stake in shares of Kinsale Capital Group during the 4th quarter worth about $229,653,000. Capital World Investors increased its position in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider’s stock worth $386,366,000 after acquiring an additional 533,499 shares in the last quarter. Norges Bank acquired a new stake in Kinsale Capital Group in the 4th quarter valued at $107,916,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Kinsale Capital Group during the 2nd quarter valued at about $45,595,000. Institutional investors and hedge funds own 85.36% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Kinsale Capital Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. JPMorgan Chase & Co. raised their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their price objective on shares of 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. Finally, Morgan Stanley boosted their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $368.78.
Kinsale Capital Group Stock Performance
Shares of NYSE KNSL opened at $381.25 on Friday. The stock’s fifty day simple moving average is $354.41 and its 200 day simple moving average is $344.98. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.20 and a beta of 0.89. Kinsale Capital Group, Inc. has a 52-week low of $287.20 and a 52-week high of $485.00.
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, beating analysts’ consensus estimates of $5.11 by $0.43. The company had revenue of $548.52 million during 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%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.78 earnings per share. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.
Kinsale Capital Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group’s dividend payout ratio is currently 4.05%.
Insider Activity
In related news, CAO Christopher R. Tangard purchased 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the chief accounting officer owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by company insiders.
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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