Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,817 shares of the financial services provider’s stock, valued at approximately $7,525,000. Kinsale Capital Group accounts for approximately 1.6% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 23rd biggest position.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Kinsale Capital Group during the 2nd quarter valued at approximately $671,457,000. Life Cycle Investment Partners Ltd bought a new position in shares of Kinsale Capital Group in the 4th quarter worth approximately $229,653,000. Capital World Investors raised its position in shares of Kinsale Capital Group by 117.4% in the 4th 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 purchased a new position in shares of Kinsale Capital Group in the 4th quarter valued at approximately $107,916,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Kinsale Capital Group in the 2nd quarter valued at approximately $45,595,000. 85.36% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CAO Christopher R. Tangard acquired 330 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the acquisition, the chief accounting officer directly owned 380 shares in the company, valued at approximately $115,520. The trade was a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.
Kinsale Capital Group Stock Performance
Kinsale Capital Group (NYSE:KNSL – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, beating the consensus estimate of $5.11 by $0.43. The company had revenue of $548.52 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.78 EPS. Sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.
Kinsale Capital Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group’s dividend payout ratio (DPR) is 4.05%.
Wall Street Analysts Forecast Growth
KNSL has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Truist Financial lowered their price objective on Kinsale Capital Group from $450.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, April 27th. 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. Morgan Stanley upped their target price on shares of 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. Finally, TD Cowen reiterated a “hold” rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Kinsale Capital Group currently has a consensus rating of “Reduce” and a consensus price target of $368.78.
Check Out Our Latest Stock Analysis on Kinsale Capital Group
Kinsale Capital Group Profile
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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