Amundi Has $16.10 Million Holdings in Kinsale Capital Group, Inc. $KNSL

Key Points

• Amundi increased its Kinsale Capital Group stake by 3,140% in the first quarter, ending with 47,110 shares valued at approximately $16.1 million. Institutional investors collectively own 85.36% of the company.
• Kinsale reported quarterly earnings of $5.54 per share, beating estimates of $5.11, while revenue rose 16.8% year over year to $548.52 million.
• Analyst sentiment remains cautious, with one Buy, six Hold, and three Sell ratings; the average price target is $362.11, near the stock’s reported price of $363.09.

Amundi boosted its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 3,140.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,110 shares of the financial services provider's stock after acquiring an additional 45,656 shares during the quarter. Amundi owned 0.20% of Kinsale Capital Group worth $16,096,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Kinsale Capital Group by 76.2% in the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock valued at $397,000 after buying an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Kinsale Capital Group by 72.9% in the second quarter. EverSource Wealth Advisors LLC now owns 102 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 43 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Kinsale Capital Group by 7.9% during the second quarter. Brown Advisory Inc. now owns 1,117 shares of the financial services provider's stock valued at $541,000 after purchasing an additional 82 shares in the last quarter. Jump Financial LLC lifted its position in shares of Kinsale Capital Group by 136.9% during the second quarter. Jump Financial LLC now owns 1,097 shares of the financial services provider's stock valued at $531,000 after purchasing an additional 634 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Kinsale Capital Group by 45.3% during the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock worth $2,430,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Insiders Place Their Bets

In other news, CAO Christopher R. Tangard purchased 330 shares of the business's stock in a transaction dated Monday, June 8th. The stock was bought at an average price of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer owned 380 shares of the company's stock, valued at $115,520. The trade was a 660.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total transaction of $77,792.50. Following the completion of the transaction, the insider directly owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This trade represents a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Up 0.7%

Kinsale Capital Group stock opened at $363.09 on Wednesday. The firm has a 50 day moving average price of $328.12 and a 200-day moving average price of $347.38. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11. Kinsale Capital Group, Inc. has a twelve month low of $287.20 and a twelve month high of $485.00. The company has a market capitalization of $8.27 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.14 and a beta of 0.89.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The company had revenue of $548.52 million for the quarter, compared to analysts' expectations of $445.13 million. During the same quarter in the previous year, the firm posted $4.78 EPS. Kinsale Capital Group's revenue was up 16.8% on a year-over-year basis. As a group, equities analysts predict that Kinsale Capital Group, Inc. will post 21.12 EPS for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is currently 4.05%.

Analysts Set New Price Targets

Several equities research analysts have commented on KNSL shares. Morgan Stanley decreased their price objective on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating for the company in a research note on Thursday, May 21st. Truist Financial cut their target price on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company increased their price target on Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada cut their price objective on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $362.11.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc NYSE: KNSL is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company's product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.

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