Beacon Pointe Advisors LLC Acquires Shares of 3,483 Kinsale Capital Group, Inc. $KNSL

Key Points

• Beacon Pointe Advisors acquired 3,483 shares of Kinsale Capital Group valued at approximately $1.15 million during the second quarter. Institutional investors collectively own 85.36% of the company.
• Analysts remain cautious, with one Buy, seven Hold, and two Sell ratings; KNSL has an average “Reduce” rating and a consensus price target of $368.78.
• 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, implying a 0.3% annual yield.

Beacon Pointe Advisors LLC bought a new stake in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,483 shares of the financial services provider's stock, valued at approximately $1,149,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bamco Inc. NY purchased a new position in Kinsale Capital Group during the 2nd quarter valued at about $878,600,000. BlackRock Inc. purchased a new stake in shares of Kinsale Capital Group in the second quarter worth about $671,457,000. Capital World Investors boosted its position in shares of Kinsale Capital Group by 117.4% in the fourth quarter. Capital World Investors now owns 987,844 shares of the financial services provider's stock valued at $386,366,000 after acquiring an additional 533,499 shares during the period. First Manhattan CO. LLC. boosted its position in shares of Kinsale Capital Group by 19.6% in the fourth quarter. First Manhattan CO. LLC. now owns 614,647 shares of the financial services provider's stock valued at $240,401,000 after acquiring an additional 100,600 shares during the period. Finally, Life Cycle Investment Partners Ltd purchased a new position in Kinsale Capital Group during the fourth quarter valued at approximately $229,653,000. Hedge funds and other institutional investors own 85.36% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on KNSL shares. Wells Fargo & Company increased their target price on shares of Kinsale Capital Group from $366.00 to $377.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. TD Cowen restated a "hold" rating on shares of Kinsale Capital Group in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Morgan Stanley increased their price objective on Kinsale Capital Group from $345.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Kinsale Capital Group from $380.00 to $390.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Kinsale Capital Group has an average rating of "Reduce" and an average price target of $368.78.

Kinsale Capital Group Trading Up 0.2%

Shares of Kinsale Capital Group stock opened at $381.25 on Monday. 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, Inc. has a 1 year low of $287.20 and a 1 year high of $485.00. The firm has a market cap of $8.68 billion, a PE ratio of 15.45, a PEG ratio of 1.20 and a beta of 0.89. The company has a 50 day simple moving average of $354.41 and a two-hundred day simple moving average of $344.66.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $445.13 million. Kinsale Capital Group had a net margin of 28.49% and a return on equity of 25.54%. The business's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.78 EPS. Analysts expect that Kinsale Capital Group, Inc. will post 21.1 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Christopher R. Tangard purchased 330 shares of the stock in a transaction on Monday, June 8th. The shares were acquired at an average price of $304.00 per share, for a total transaction 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 approximately $115,520. This trade represents a 660.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

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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