Alpine Global Management LLC Buys Shares of 1,527 Kinsale Capital Group, Inc. $KNSL

Key Points

• Alpine Global Management LLC has acquired 1,527 shares of Kinsale Capital Group, Inc. worth approximately $743,000, marking a new investment in the financial services provider.
• Kinsale Capital Group's most recent earnings report showed $4.78 EPS, surpassing analysts' expectations and reflecting a 22.2% increase in revenue compared to the previous year.
• The company has announced a $0.17 quarterly dividend, scheduled for payment on September 11th, with a yield of 0.1% and a payout ratio of 3.55%.

Alpine Global Management LLC acquired a new stake in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,527 shares of the financial services provider's stock, valued at approximately $743,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc boosted its stake in Kinsale Capital Group by 315.4% during the first quarter. Key Financial Inc now owns 54 shares of the financial services provider's stock worth $26,000 after acquiring an additional 41 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Kinsale Capital Group during the 1st quarter valued at $31,000. NBC Securities Inc. bought a new stake in shares of Kinsale Capital Group during the 1st quarter worth $35,000. von Borstel & Associates Inc. purchased a new position in Kinsale Capital Group in the 1st quarter worth $42,000. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Kinsale Capital Group in the fourth quarter valued at about $54,000. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages recently commented on KNSL. Bank of America assumed coverage on shares of Kinsale Capital Group in a research report on Friday, June 20th. They set a "buy" rating and a $543.00 price objective on the stock. BMO Capital Markets lifted their price objective 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. Morgan Stanley upped their target price on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Compass Point boosted 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 report on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price 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. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Trading Down 0.7%

NYSE:KNSL traded down $3.31 on Wednesday, reaching $451.99. 159,743 shares of the company's stock were exchanged, compared to its average volume of 176,379. Kinsale Capital Group, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $463.77 and a 200-day moving average of $461.72.

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, beating 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 firm had revenue of $458.70 million during the quarter, compared to the consensus estimate of $436.25 million. During the same period in the prior year, the company 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, analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio 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.