Argent Capital Management LLC Raises Stake in Kinsale Capital Group, Inc. $KNSL

Key Points

• Argent Capital Management LLC increased its stake in Kinsale Capital Group by 133.2%, now owning a total of 3,761 shares valued at approximately $1.82 million.
• Multiple analysts have given Kinsale Capital Group a mix of ratings, with a consensus price target of $505.80 and four Buy ratings.
• Kinsale Capital Group reported a strong quarterly earnings performance with an EPS of $4.78, surpassing expectations and a 22.2% year-over-year revenue increase.

Argent Capital Management LLC raised its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 133.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,761 shares of the financial services provider's stock after purchasing an additional 2,148 shares during the quarter. Argent Capital Management LLC's holdings in Kinsale Capital Group were worth $1,820,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Kinsale Capital Group by 11.3% during the second quarter. UMB Bank n.a. now owns 237 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 24 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Kinsale Capital Group by 2.1% in the first quarter. Private Trust Co. NA now owns 1,288 shares of the financial services provider's stock worth $627,000 after buying an additional 27 shares in the last quarter. Strategic Advisors LLC lifted its holdings in shares of Kinsale Capital Group by 0.6% in the first quarter. Strategic Advisors LLC now owns 5,277 shares of the financial services provider's stock worth $2,568,000 after buying an additional 30 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Kinsale Capital Group by 0.7% in the first quarter. Xponance Inc. now owns 4,496 shares of the financial services provider's stock worth $2,188,000 after buying an additional 30 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC lifted its holdings in shares of Kinsale Capital Group by 2.6% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 1,190 shares of the financial services provider's stock worth $579,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KNSL shares. Bank of America started coverage on shares of Kinsale Capital Group in a report on Friday, June 20th. They issued a "buy" rating and a $543.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kinsale Capital Group from $440.00 to $460.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Truist Financial boosted their target price on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Compass Point boosted their target price on shares of Kinsale Capital Group from $432.00 to $490.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $505.80.

Kinsale Capital Group Trading Down 1.1%

NYSE KNSL opened at $424.12 on Tuesday. The company's 50-day moving average price is $452.08 and its 200-day moving average price is $462.27. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11. The stock has a market cap of $9.88 billion, a PE ratio of 22.12, a PEG ratio of 1.58 and a beta of 1.13. Kinsale Capital Group, Inc. has a 12 month low of $405.00 and a 12 month high of $531.79.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.41 by $0.37. The firm had revenue of $458.70 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.75 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were issued a $0.17 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.2%. Kinsale Capital Group's dividend 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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