AXQ Capital LP Invests $2.52 Million in Kinsale Capital Group, Inc. $KNSL

Key Points

• AXQ Capital LP acquired 7,657 Kinsale Capital Group shares in the second quarter, valued at approximately $2.52 million. Institutional investors and hedge funds collectively own 85.36% of KNSL.
• Kinsale reported strong quarterly results, with EPS of $5.54 beating estimates and revenue rising 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: one analyst rates KNSL a Buy, seven rate it Hold, and two rate it Sell, producing an average “Reduce” rating and a consensus price target of $368.78.

AXQ Capital LP acquired a new position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,657 shares of the financial services provider's stock, valued at approximately $2,525,000.

Several other large investors have also recently added to or reduced their stakes in the business. Isthmus Partners LLC bought a new stake in shares of Kinsale Capital Group in the 4th quarter worth approximately $8,110,000. Life Cycle Investment Partners Ltd bought a new stake in Kinsale Capital Group during the fourth quarter worth approximately $229,653,000. Stephens Investment Management Group LLC boosted its holdings in Kinsale Capital Group by 37.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 208,075 shares of the financial services provider's stock worth $81,382,000 after buying an additional 56,916 shares in the last quarter. Handelsbanken Fonder AB grew its position in Kinsale Capital Group by 9.6% in the fourth quarter. Handelsbanken Fonder AB now owns 57,000 shares of the financial services provider's stock worth $22,294,000 after buying an additional 5,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Kinsale Capital Group by 676.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,815 shares of the financial services provider's stock worth $2,274,000 after buying an additional 5,066 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinsale Capital Group

In related news, CAO Christopher Tangard bought 330 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $304.00 per share, for a total transaction of $100,320.00. Following the purchase, the chief accounting officer directly owned 380 shares in the company, valued at $115,520. This trade represents a 660.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

KNSL has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective 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. TD Cowen reaffirmed a "hold" rating on shares of Kinsale Capital Group in a research note on Tuesday, June 16th. Morgan Stanley raised their target price on shares of Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Finally, Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $368.78.

Kinsale Capital Group Trading Up 1.6%

Shares of NYSE:KNSL opened at $382.77 on Friday. The firm has a fifty day moving average of $360.16 and a two-hundred day moving average of $344.16. The firm has a market capitalization of $8.72 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.19 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 quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.11.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 period last year, the business earned $4.78 EPS. The business's quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts expect that Kinsale Capital Group, Inc. will post 21.1 EPS for the current fiscal year.

Kinsale Capital Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 28th. Kinsale Capital Group's 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.

Want to see what other hedge funds are holding KNSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source