Kinsale Capital Group, Inc. (NYSE:KNSL) Position Increased by Ascent Group LLC

Ascent Group LLC raised its holdings in shares of Kinsale Capital Group, Inc. (NYSE:KNSL) by 7.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,029 shares of the financial services provider’s stock after buying an additional 294 shares during the period. Ascent Group LLC’s holdings in Kinsale Capital Group were worth $2,114,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cim LLC purchased a new stake in shares of Kinsale Capital Group in the 4th quarter valued at approximately $1,934,000. Axiom Investors LLC DE lifted its position in shares of Kinsale Capital Group by 116.3% in the 4th quarter. Axiom Investors LLC DE now owns 44,135 shares of the financial services provider’s stock valued at $14,781,000 after acquiring an additional 23,728 shares in the last quarter. Carnegie Capital Asset Management LLC purchased a new stake in shares of Kinsale Capital Group in the 4th quarter valued at approximately $8,002,000. Janney Montgomery Scott LLC lifted its position in Kinsale Capital Group by 113.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,094 shares of the financial services provider’s stock worth $2,148,000 after buying an additional 2,172 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Kinsale Capital Group by 129.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 44,232 shares of the financial services provider’s stock worth $14,814,000 after buying an additional 24,992 shares in the last quarter. 85.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KNSL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Kinsale Capital Group from $400.00 to $420.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Oppenheimer initiated coverage on shares of Kinsale Capital Group in a research report on Friday, July 12th. They issued a “market perform” rating for the company. TD Cowen initiated coverage on shares of Kinsale Capital Group in a research report on Monday, May 20th. They issued a “hold” rating and a $403.00 target price for the company. Truist Financial increased their target price on shares of Kinsale Capital Group from $440.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Compass Point cut their price target on shares of Kinsale Capital Group from $490.00 to $390.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $443.38.

Insiders Place Their Bets

In other Kinsale Capital Group news, COO Brian D. Haney sold 3,778 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $367.74, for a total value of $1,389,321.72. Following the sale, the chief operating officer now directly owns 95,850 shares in the company, valued at approximately $35,247,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Kinsale Capital Group Stock Performance

NYSE:KNSL traded down $3.13 during midday trading on Monday, reaching $440.16. The stock had a trading volume of 361,425 shares, compared to its average volume of 188,433. Kinsale Capital Group, Inc. has a 1-year low of $325.01 and a 1-year high of $548.47. The firm’s fifty day simple moving average is $386.43 and its 200-day simple moving average is $426.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $10.25 billion, a P/E ratio of 29.25, a PEG ratio of 1.97 and a beta of 1.06.

Kinsale Capital Group (NYSE:KNSL) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.23. Kinsale Capital Group had a net margin of 26.08% and a return on equity of 30.33%. The business had revenue of $384.55 million for the quarter, compared to analyst estimates of $410.20 million. During the same period last year, the business posted $2.88 EPS. Kinsale Capital Group’s revenue was up 30.0% compared to the same quarter last year. On average, equities research analysts forecast that Kinsale Capital Group, Inc. will post 15.03 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Friday, May 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s dividend payout ratio is 3.99%.

About Kinsale Capital Group

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.