Abacus Planning Group Inc. Invests $389,000 in Kinsale Capital Group, Inc. $KNSL

Key Points

• Abacus Planning Group Inc. has invested $389,000 in Kinsale Capital Group by acquiring 803 shares in the second quarter, signaling confidence in the company's growth prospects.
• Kinsale Capital Group's recent earnings report showed $4.78 earnings per share, exceeding analyst expectations and reflecting a 22.2% year-over-year revenue increase.
• Analysts have mixed views on Kinsale Capital, with a consensus rating of Hold and a price target of $505.80, indicating a potential for further assessment and trading activity.

Abacus Planning Group Inc. bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 803 shares of the financial services provider's stock, valued at approximately $389,000.

Several other large investors have also recently modified their holdings of KNSL. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Kinsale Capital Group in the first quarter worth about $125,003,000. First Manhattan CO. LLC. grew its stake in Kinsale Capital Group by 401.4% during the first quarter. First Manhattan CO. LLC. now owns 201,272 shares of the financial services provider's stock valued at $97,961,000 after acquiring an additional 161,132 shares in the last quarter. Madison Asset Management LLC purchased a new position in Kinsale Capital Group during the first quarter valued at approximately $76,235,000. JPMorgan Chase & Co. grew its stake in Kinsale Capital Group by 39.8% during the first quarter. JPMorgan Chase & Co. now owns 460,651 shares of the financial services provider's stock valued at $224,204,000 after acquiring an additional 131,056 shares in the last quarter. Finally, Giverny Capital Inc. grew its stake in Kinsale Capital Group by 87.3% during the first quarter. Giverny Capital Inc. now owns 169,967 shares of the financial services provider's stock valued at $82,725,000 after acquiring an additional 79,208 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective 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. Bank of America assumed coverage on shares of Kinsale Capital Group in a research note on Friday, June 20th. They set a "buy" rating and a $543.00 price objective for the company. Truist Financial boosted their price objective 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. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Trading Up 5.9%

Shares of KNSL opened at $442.22 on Friday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. Kinsale Capital Group, Inc. has a fifty-two week low of $405.00 and a fifty-two week high of $531.79. The firm has a 50 day moving average price of $443.03 and a 200-day moving average price of $460.62.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced 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 firm had revenue of $458.70 million during the quarter, compared to analyst estimates of $436.25 million. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The business's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.75 EPS. 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 Dividend Announcement

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

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