Allianz Asset Management GmbH Purchases 1,200 Shares of Kinsale Capital Group, Inc. (NYSE:KNSL)

Key Points

• Allianz Asset Management GmbH increased its stake in Kinsale Capital Group by 68.6% in Q1, holding 2,950 shares valued at $1,436,000.
• Kinsale Capital Group reported earnings of $4.78 per share, exceeding estimates, with quarterly revenue of $458.70 million, marking a 22.2% year-over-year increase.
• Analysts have raised their price targets for Kinsale Capital Group stock, with Truist Financial's target upgraded to $560.00 and a consensus rating of "Hold".

Allianz Asset Management GmbH raised its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 68.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,950 shares of the financial services provider's stock after buying an additional 1,200 shares during the quarter. Allianz Asset Management GmbH's holdings in Kinsale Capital Group were worth $1,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNSL. LPL Financial LLC grew its holdings in Kinsale Capital Group by 29.4% in the 4th quarter. LPL Financial LLC now owns 20,415 shares of the financial services provider's stock valued at $9,310,000 after buying an additional 4,644 shares during the last quarter. Norges Bank acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $89,200,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Kinsale Capital Group by 169.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,563 shares of the financial services provider's stock worth $727,000 after purchasing an additional 984 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Kinsale Capital Group by 4.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,017 shares of the financial services provider's stock worth $1,403,000 after purchasing an additional 132 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kinsale Capital Group during the 4th quarter worth approximately $3,746,000. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Price Performance

Shares of Kinsale Capital Group stock traded up $3.70 during midday trading on Friday, hitting $444.39. 189,843 shares of the company were exchanged, compared to its average volume of 222,047. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $10.36 billion, a P/E ratio of 23.18, a PEG ratio of 1.63 and a beta of 1.12. Kinsale Capital Group, Inc. has a 52 week low of $405.00 and a 52 week high of $531.79. The firm has a 50 day simple moving average of $472.87 and a 200-day simple moving average of $462.26.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping the consensus estimate of $4.41 by $0.37. The business had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. Kinsale Capital Group's revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $3.75 EPS. 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 dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a $0.17 dividend. The ex-dividend date was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's payout ratio is presently 3.55%.

Insider Transactions at Kinsale Capital Group

In other Kinsale Capital Group news, EVP Diane D. Schnupp sold 1,398 shares of Kinsale Capital Group stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $472.00, for a total value of $659,856.00. Following the completion of the transaction, the executive vice president owned 6,646 shares in the company, valued at approximately $3,136,912. The trade was a 17.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KNSL. BMO Capital Markets lifted their price objective on Kinsale Capital Group from $429.00 to $474.00 and gave the stock a "market perform" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday. Wall Street Zen raised Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Compass Point lifted their price objective on Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Morgan Stanley lifted their price objective on Kinsale Capital Group from $490.00 to $525.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $506.44.

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.