Aurora Investment Counsel Makes New $2.35 Million Investment in Kinsale Capital Group, Inc. $KNSL

Key Points

• Aurora Investment Counsel initiated a $2.35 million position in Kinsale Capital Group during the second quarter, purchasing 7,130 shares. 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. The company also declared a quarterly dividend of $0.25 per share.
• Analyst sentiment remains cautious, with one Buy, six Hold, and three Sell ratings; the consensus rating is “Reduce,” with a $368.78 price target. Shares opened at $380.55, above the consensus target.

Aurora Investment Counsel bought a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,130 shares of the financial services provider's stock, valued at approximately $2,352,000. Kinsale Capital Group accounts for 1.2% of Aurora Investment Counsel's portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in Kinsale Capital Group by 76.2% during the 1st quarter. AQR Capital Management LLC now owns 835 shares of the financial services provider's stock worth $397,000 after purchasing an additional 361 shares during the period. EverSource Wealth Advisors LLC lifted its stake 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 period. Brown Advisory Inc. boosted its holdings in 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 worth $541,000 after buying an additional 82 shares in the last quarter. Jump Financial LLC grew its position in 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 worth $531,000 after buying an additional 634 shares during the period. Finally, Cerity Partners LLC increased its holdings in Kinsale Capital Group by 45.3% in the second quarter. Cerity Partners LLC now owns 5,021 shares of the financial services provider's stock valued at $2,430,000 after buying an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 85.36% of the company's stock.

Insider Buying and Selling

In other news, CAO Christopher R. Tangard acquired 330 shares of the stock in a transaction on Monday, June 8th. The stock was bought at an average price of $304.00 per share, with a total value of $100,320.00. Following the completion of the transaction, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Salmaan K. Allibhai sold 250 shares of Kinsale Capital Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total transaction of $77,792.50. Following the sale, the insider owned 3,645 shares in the company, valued at $1,134,214.65. This represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KNSL shares. TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Morgan Stanley boosted their price target on Kinsale Capital Group from $345.00 to $390.00 and gave the company an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Wells Fargo & Company boosted their price objective on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $368.78.

Kinsale Capital Group Trading Up 2.1%

Shares of KNSL opened at $380.55 on Thursday. The stock's 50-day moving average is $343.87 and its two-hundred day moving average is $345.39. The stock has a market cap of $8.67 billion, a PE ratio of 15.42, a P/E/G ratio of 1.18 and a beta of 0.89. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $485.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.09 and a quick ratio of 0.09.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $5.54 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.43. Kinsale Capital Group had a return on equity of 25.54% and a net margin of 28.49%.The company had revenue of $548.52 million during the quarter, compared to the consensus estimate of $445.13 million. During the same quarter in the prior year, the business earned $4.78 earnings per share. The company's revenue was up 16.8% compared to the same quarter last year. Equities analysts forecast that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, August 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 28th. Kinsale Capital Group's dividend payout ratio is currently 4.05%.

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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