Allianz Asset Management GmbH Boosts Holdings in 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 boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 68.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,950 shares of the financial services provider's stock after acquiring an additional 1,200 shares during the period. Allianz Asset Management GmbH's holdings in Kinsale Capital Group were worth $1,436,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Key Financial Inc grew its position in Kinsale Capital Group by 315.4% in the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after buying an additional 41 shares during the last quarter. NBC Securities Inc. purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $35,000. von Borstel & Associates Inc. purchased a new position in Kinsale Capital Group during the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Kinsale Capital Group during the 4th quarter valued at $54,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Kinsale Capital Group by 39.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 138 shares of the financial services provider's stock valued at $67,000 after buying an additional 39 shares during the period. Institutional investors own 85.36% of the company's stock.

Insider Buying and Selling

In related news, EVP Diane D. Schnupp sold 1,398 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $472.00, for a total value of $659,856.00. Following the sale, the executive vice president directly owned 6,646 shares of the company's stock, valued at $3,136,912. This trade represents a 17.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KNSL has been the subject of several analyst reports. 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. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Compass Point upped their target price 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 boosted 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 report on Monday, July 28th. Finally, BMO Capital Markets boosted 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 report on Tuesday, July 29th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $506.44.

Kinsale Capital Group Trading Down 0.0%

Shares of NYSE KNSL traded down $0.17 during midday trading on Monday, reaching $444.33. The stock had a trading volume of 35,944 shares, compared to its average volume of 208,139. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.12. Kinsale Capital Group, Inc. has a twelve month low of $405.00 and a twelve month high of $531.79. 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 company's 50 day moving average price is $472.48 and its 200 day moving average price is $462.73.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results 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. Kinsale Capital Group had a return on equity of 25.93% and a net margin of 25.92%. The company had revenue of $458.70 million for the quarter, compared to analyst estimates of $436.25 million. During the same period in the prior year, the firm earned $3.75 earnings per share. Kinsale Capital Group's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that Kinsale Capital Group, Inc. will post 17.72 EPS 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 issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a yield of 15.0%. Kinsale Capital Group's dividend payout ratio is 3.55%.

Kinsale Capital Group Company 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.