608 Shares in Kinsale Capital Group, Inc. $KNSL Acquired by Wallace Advisory Group LLC

Key Points

• Wallace Advisory Group LLC acquired 608 shares of Kinsale Capital Group, valued at approximately $296,000, as part of their new position in the company during the 2nd quarter.
• Several large investors modified their holdings in Kinsale Capital Group, contributing to institutional ownership now at 85.36% of the company's stock.
• Kinsale Capital Group reported strong quarterly earnings, with an EPS of $4.78, surpassing estimates by $0.37 and showing a 22.2% year-over-year revenue increase.

Wallace Advisory Group LLC acquired a new position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 608 shares of the financial services provider's stock, valued at approximately $296,000.

Several other large investors have also recently modified their holdings of the company. Calamos Wealth Management LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $203,000. Salomon & Ludwin LLC raised its stake in shares of Kinsale Capital Group by 5.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 630 shares of the financial services provider's stock worth $298,000 after acquiring an additional 30 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Kinsale Capital Group by 3.9% during the 2nd quarter. Koshinski Asset Management Inc. now owns 2,284 shares of the financial services provider's stock worth $1,105,000 after acquiring an additional 86 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $230,000. Finally, Applied Finance Capital Management LLC bought a new position in shares of Kinsale Capital Group during the 2nd quarter worth approximately $271,000. Institutional investors own 85.36% of the company's stock.

Wall Street Analysts Forecast Growth

KNSL has been the topic of a number of recent analyst reports. Compass Point upped their price target 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. Truist Financial upped their price target on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. BMO Capital Markets upped 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 research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald upgraded shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $506.89.

Kinsale Capital Group Stock Down 1.0%

KNSL stock opened at $442.75 on Tuesday. The firm's fifty day simple moving average is $446.98 and its 200-day simple moving average is $459.36. The company has a market capitalization of $10.32 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The firm had revenue of $458.70 million for the quarter, compared to the consensus estimate of $436.25 million. During the same period in the prior year, the firm posted $3.75 earnings per share. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 29th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.2%. Kinsale Capital Group's dividend payout ratio is 3.55%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.