Aurora Investment Counsel Makes New $2.49 Million Investment in Kinsale Capital Group, Inc. $KNSL

Key Points

• Aurora Investment Counsel initiated a new position in Kinsale Capital Group during the first quarter, buying 7,288 shares worth about $2.49 million. The stock now represents about 1.4% of Aurora’s portfolio.
• Institutional ownership in Kinsale remains high, with 85.36% of shares held by hedge funds and other institutions. Several other funds also recently increased their stakes in the insurer.
• Analyst sentiment is mixed: recent reports included both rating upgrades and downgrades, and the stock carries an average "Reduce" rating with a consensus price target of $375.80. Meanwhile, Kinsale’s latest quarterly results beat earnings and revenue expectations, though the company’s shares have also seen insider selling activity.

Aurora Investment Counsel acquired a new stake in shares of 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 7,288 shares of the financial services provider's stock, valued at approximately $2,490,000. Kinsale Capital Group accounts for about 1.4% of Aurora Investment Counsel's portfolio, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vident Advisory LLC increased its holdings in Kinsale Capital Group by 2.9% in the 2nd quarter. Vident Advisory LLC now owns 825 shares of the financial services provider's stock worth $399,000 after acquiring an additional 23 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Kinsale Capital Group by 3.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 867 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 28 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Kinsale Capital Group by 20.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 162 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 28 shares during the period. Signaturefd LLC lifted its stake in shares of Kinsale Capital Group by 39.0% during the 4th quarter. Signaturefd LLC now owns 107 shares of the financial services provider's stock valued at $42,000 after buying an additional 30 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Kinsale Capital Group by 5.3% during the 4th quarter. CWM LLC now owns 592 shares of the financial services provider's stock valued at $232,000 after buying an additional 30 shares in the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KNSL has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Kinsale Capital Group from $357.00 to $366.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Wall Street Zen upgraded Kinsale Capital Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings lowered Kinsale Capital Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 26th. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Finally, Truist Financial lowered their price target on Kinsale Capital Group from $450.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Kinsale Capital Group has an average rating of "Reduce" and an average price target of $375.80.

Insider Activity at Kinsale Capital Group

In other Kinsale Capital Group news, CEO Michael P. Kehoe sold 22,576 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $302.66, for a total value of $6,832,852.16. Following the completion of the sale, the chief executive officer owned 308,048 shares of the company's stock, valued at $93,233,807.68. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Salmaan K. Allibhai sold 250 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $311.17, for a total value of $77,792.50. Following the transaction, the insider directly owned 3,645 shares in the company, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their position. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by insiders.

Kinsale Capital Group Stock Performance

NYSE:KNSL opened at $343.49 on Friday. The stock's fifty day moving average is $317.62 and its 200 day moving average is $351.23. Kinsale Capital Group, Inc. has a fifty-two week low of $287.20 and a fifty-two week high of $512.76. The firm has a market capitalization of $7.92 billion, a PE ratio of 15.12, a PEG ratio of 1.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.41. Kinsale Capital Group had a return on equity of 25.82% and a net margin of 27.48%.The company had revenue of $466.71 million during the quarter, compared to the consensus estimate of $410.25 million. During the same period last year, the company earned $3.71 earnings per share. Kinsale Capital Group's revenue was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 20.71 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is presently 4.40%.

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.

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