Bank of New York Mellon Corp Has $50.27 Million Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Bank of New York Mellon trimmed its stake in Kinsale Capital Group by 2.4% in the first quarter, but still held 147,136 shares valued at about $50.27 million at quarter-end.
• Kinsale reported a strong Q2, with EPS of $5.54 and revenue of $548.52 million, both beating estimates; revenue also rose 16.8% from a year earlier.
• The company announced a $337 million share buyback, while analysts remain cautious overall, with MarketBeat showing a consensus rating of "Reduce" despite some recent target price increases.

Bank of New York Mellon Corp lessened its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,136 shares of the financial services provider's stock after selling 3,600 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of Kinsale Capital Group worth $50,271,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Kinsale Capital Group during the fourth quarter worth $25,000. Bayban bought a new position in shares of Kinsale Capital Group in the fourth quarter worth about $25,000. eCIO Inc. bought a new position in shares of Kinsale Capital Group in the fourth quarter worth about $29,000. International Assets Investment Management LLC acquired a new position in shares of Kinsale Capital Group during the fourth quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. lifted its holdings in Kinsale Capital Group by 257.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 75 shares of the financial services provider's stock worth $32,000 after buying an additional 54 shares in the last quarter. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group News Roundup

Here are the key news stories impacting Kinsale Capital Group this week:

• Positive Sentiment: Kinsale delivered a major Q2 earnings beat, with both profit and revenue topping estimates and revenue rising 16.8% from a year ago. Article title: Kinsale Capital Group, Inc. (KNSL) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Higher underwriting income and investment income helped drive the quarter’s outperformance, signaling continued profitability strength. Article title: KNSL Q2 Earnings Beat on Higher Underwriting & Investment Income
• Positive Sentiment: The company authorized a new $337 million share buyback, which can support the stock by reducing share count and signaling confidence in capital strength. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market
• Neutral Sentiment: Commentary around Kinsale being a “strong momentum” and “top value” stock is supportive, but it is more of a ratings/market commentary theme than a direct operational catalyst. Article title: Here's Why Kinsale Capital Group, Inc. (KNSL) is a Strong Momentum Stock
• Neutral Sentiment: Reports noting tougher competition and shrinking commercial property volume suggest some underwriting headwinds, but the market appears focused more on the earnings beat and buyback than on those pressures. Article title: Kinsale outlines $337M buyback authorization as commercial property volume shrinks in competitive market

Analyst Ratings Changes

A number of brokerages recently commented on KNSL. Wells Fargo & Company lifted their price objective on Kinsale Capital Group from $357.00 to $366.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Morgan Stanley reduced their target price on shares of Kinsale Capital Group from $350.00 to $330.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 21st. TD Cowen reiterated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Royal Bank Of Canada cut their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. raised their target price on Kinsale Capital Group from $380.00 to $390.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $373.80.

Insider Transactions at Kinsale Capital Group

In other news, CAO Christopher R. Tangard purchased 330 shares of Kinsale Capital Group stock in a transaction that occurred on Monday, June 8th. The stock was acquired 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 of the company's stock, valued at $115,520. This trade represents a 660.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Kehoe sold 22,576 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $302.66, for a total transaction of $6,832,852.16. Following the transaction, the chief executive officer directly owned 308,048 shares in the company, valued at approximately $93,233,807.68. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is owned by corporate insiders.

Kinsale Capital Group Stock Performance

Shares of NYSE KNSL opened at $348.70 on Friday. 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 company has a market capitalization of $8.04 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.07 and a beta of 0.90. Kinsale Capital Group, Inc. has a 12 month low of $287.20 and a 12 month high of $512.76. The stock has a 50 day moving average of $321.17 and a 200-day moving average of $349.35.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $5.54 EPS for the quarter, topping analysts' consensus estimates of $5.11 by $0.43. The firm had revenue of $548.52 million during the quarter, compared to analysts' expectations of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.89%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.78 earnings per share. As a group, equities research analysts predict that Kinsale Capital Group, Inc. will post 20.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. Kinsale Capital Group's dividend payout ratio is presently 4.05%.

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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