Ascent Group LLC Buys 7,879 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Ascent Group LLC increased its stake in Kinsale Capital Group by 48.8%, acquiring 7,879 additional shares to hold 24,027 shares (~0.10%) worth roughly $9.397 million at quarter-end.
• Kinsale beat expectations with quarterly EPS of $5.81 (vs. $5.30 est.) and $483.27M revenue, alongside a 26.9% net margin and 25.5% ROE, while analysts hold a consensus "Hold" rating with a $430.91 price target.
• Capital returns: the company raised its quarterly dividend to $0.25 (annualized $1.00, ~0.3% yield) and approved a $250 million share buyback program (about 2.8% of shares).

Ascent Group LLC lifted its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 48.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,027 shares of the financial services provider's stock after acquiring an additional 7,879 shares during the quarter. Ascent Group LLC owned approximately 0.10% of Kinsale Capital Group worth $9,397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of KNSL. Johnson Financial Group Inc. increased its stake in shares of Kinsale Capital Group by 257.1% in the third quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after purchasing an additional 54 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Kinsale Capital Group in the third quarter worth $33,000. Larson Financial Group LLC raised its holdings in shares of Kinsale Capital Group by 225.0% in the 3rd quarter. Larson Financial Group LLC now owns 78 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 54 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in Kinsale Capital Group in the second quarter valued at approximately $38,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Kinsale Capital Group during the 3rd quarter valued at $40,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KNSL shares. BMO Capital Markets lowered Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 target price for the company. in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday. Truist Financial reduced their price objective on shares of Kinsale Capital Group from $510.00 to $450.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Kinsale Capital Group in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Kinsale Capital Group from $450.00 to $410.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $430.91.

Kinsale Capital Group Stock Up 0.1%

Shares of Kinsale Capital Group stock opened at $345.25 on Friday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. Kinsale Capital Group, Inc. has a twelve month low of $321.97 and a twelve month high of $512.76. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.11. The company's 50 day moving average is $370.80 and its 200 day moving average is $394.60.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last announced its earnings results on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.30 by $0.51. Kinsale Capital Group had a net margin of 26.87% and a return on equity of 25.45%. The company had revenue of $483.27 million during the quarter, compared to analyst estimates of $467.66 million. During the same period in the previous year, the business posted $4.62 earnings per share. Research analysts anticipate that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, February 26th. This is a positive change from Kinsale Capital Group's previous quarterly dividend of $0.17. Kinsale Capital Group's dividend payout ratio is currently 4.61%.

Kinsale Capital Group declared that its Board of Directors has approved a share buyback plan on Thursday, December 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Kinsale Capital Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.