United Services Automobile Association Acquires New Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• United Services Automobile Association has acquired 1,458 shares of Kinsale Capital Group, valued at approximately $703,000, indicating strong interest from institutional investors in the financial services provider.
• Kinsale Capital Group's latest quarterly earnings exceeded expectations, reporting $4.78 earnings per share, which is an increase from last year's $3.75.
• The company has announced a quarterly dividend of $0.17 per share, reflecting a low dividend payout ratio of 3.55%.

United Services Automobile Association purchased a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,458 shares of the financial services provider's stock, valued at approximately $703,000.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Kinsale Capital Group by 10.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock valued at $1,272,000 after buying an additional 254 shares during the period. Bridges Investment Management Inc. raised its holdings in Kinsale Capital Group by 111.5% in the first quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock valued at $2,446,000 after buying an additional 2,650 shares during the period. M&T Bank Corp raised its holdings in Kinsale Capital Group by 43.4% in the first quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after buying an additional 1,111 shares during the period. Artemis Investment Management LLP raised its holdings in Kinsale Capital Group by 43.9% in the first quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after buying an additional 24,681 shares during the period. Finally, Moody Aldrich Partners LLC purchased a new position in Kinsale Capital Group in the first quarter valued at approximately $270,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on KNSL. BMO Capital Markets raised their price target on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Compass Point lifted their price objective on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley lifted their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Stock Performance

Shares of KNSL traded down $0.88 during midday trading on Monday, hitting $430.81. 41,384 shares of the stock traded hands, compared to its average volume of 204,521. Kinsale Capital Group, Inc. has a 1-year low of $405.00 and a 1-year high of $531.79. The firm has a market capitalization of $10.04 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The business's 50 day moving average price is $458.95 and its two-hundred day moving average price is $462.63.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The business had revenue of $458.70 million for the quarter, compared to analysts' expectations of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.75 EPS. Equities research analysts predict that Kinsale Capital Group, Inc. will post 17.72 EPS for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were given a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 0.2%. Kinsale Capital Group's dividend payout ratio (DPR) is currently 3.55%.

Kinsale Capital Group Profile

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.