Belpointe Asset Management LLC Purchases 713 Shares of Kinsale Capital Group, Inc. $KNSL

Key Points

• Belpointe Asset Management LLC increased its stake in Kinsale Capital Group, acquiring 713 additional shares and lifting its position by 37.3% to a total of 2,626 shares worth $1.28 million.
• Kinsale Capital Group reported earnings of $4.78 per share, exceeding expectations of $4.41, and showing a 22.2% increase in revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.17 per share, representing an annualized dividend yield of 0.2%.

Belpointe Asset Management LLC lifted its position in shares of Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,626 shares of the financial services provider's stock after acquiring an additional 713 shares during the period. Belpointe Asset Management LLC's holdings in Kinsale Capital Group were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Kinsale Capital Group by 10.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,614 shares of the financial services provider's stock worth $1,272,000 after acquiring an additional 254 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Kinsale Capital Group by 111.5% during the 1st quarter. Bridges Investment Management Inc. now owns 5,026 shares of the financial services provider's stock worth $2,446,000 after acquiring an additional 2,650 shares during the period. M&T Bank Corp lifted its stake in Kinsale Capital Group by 43.4% in the 1st quarter. M&T Bank Corp now owns 3,672 shares of the financial services provider's stock valued at $1,787,000 after purchasing an additional 1,111 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Kinsale Capital Group by 43.9% in the 1st quarter. Artemis Investment Management LLP now owns 80,924 shares of the financial services provider's stock valued at $39,387,000 after purchasing an additional 24,681 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in Kinsale Capital Group in the 1st quarter valued at approximately $270,000. Institutional investors own 85.36% of the company's stock.

Kinsale Capital Group Trading Up 2.5%

Shares of NYSE KNSL opened at $436.40 on Friday. 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, Inc. has a 52-week low of $405.00 and a 52-week high of $531.79. The firm has a 50 day moving average price of $459.90 and a two-hundred day moving average price of $462.02. The stock has a market cap of $10.17 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.13.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.41 by $0.37. Kinsale Capital Group had a net margin of 25.92% and a return on equity of 25.93%. The company had revenue of $458.70 million during the quarter, compared to analysts' expectations of $436.25 million. During the same period in the prior year, the company posted $3.75 earnings per share. Kinsale Capital Group's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts forecast that Kinsale Capital Group, Inc. will post 17.72 EPS for the current year.

Kinsale Capital Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 29th were given a dividend of $0.17 per share. The ex-dividend date was Friday, August 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.2%. Kinsale Capital Group's dividend payout ratio is 3.55%.

Analyst Upgrades and Downgrades

KNSL has been the subject of several research reports. Wall Street Zen raised shares of Kinsale Capital Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. Cantor Fitzgerald raised shares of Kinsale Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Morgan Stanley increased their price objective on shares of Kinsale Capital Group from $490.00 to $525.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Truist Financial increased their price objective on shares of Kinsale Capital Group from $500.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets increased their price objective on shares of Kinsale Capital Group from $429.00 to $474.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $505.80.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company's commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.

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