Brooklands Fund Management Ltd Has $1.39 Million Position in Kinsale Capital Group, Inc. $KNSL

Key Points

• Brooklands Fund Management cut its Kinsale Capital Group stake by 50% in the fourth quarter, leaving it with 3,503 shares valued at about $1.39 million.
• Kinsale reported Q1 earnings of $5.11 per share, beating estimates, and revenue of $466.71 million, also above expectations, though revenue was slightly below the prior year.
• Analyst sentiment has turned more cautious: several firms lowered ratings or price targets, and the stock currently carries a Hold consensus with an average target price of $390.18.

Brooklands Fund Management Ltd lowered its position in Kinsale Capital Group, Inc. (NYSE:KNSL - Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,503 shares of the financial services provider's stock after selling 3,501 shares during the period. Kinsale Capital Group accounts for 0.2% of Brooklands Fund Management Ltd's portfolio, making the stock its 20th largest holding. Brooklands Fund Management Ltd's holdings in Kinsale Capital Group were worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its holdings in Kinsale Capital Group by 1.4% in the third quarter. Bamco Inc. NY now owns 1,788,590 shares of the financial services provider's stock worth $760,616,000 after buying an additional 24,796 shares during the last quarter. Capital World Investors increased its holdings in 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 worth $386,366,000 after buying an additional 533,499 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Kinsale Capital Group in the fourth quarter worth approximately $229,653,000. DAVENPORT & Co LLC increased its holdings in Kinsale Capital Group by 1.9% in the fourth quarter. DAVENPORT & Co LLC now owns 530,043 shares of the financial services provider's stock worth $208,443,000 after buying an additional 10,137 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Kinsale Capital Group by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider's stock worth $191,386,000 after buying an additional 25,428 shares during the last quarter. Institutional investors and hedge funds own 85.36% of the company's stock.

Kinsale Capital Group Stock Up 0.3%

KNSL opened at $312.33 on Tuesday. Kinsale Capital Group, Inc. has a 1-year low of $287.20 and a 1-year high of $512.76. 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 stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 1.01 and a beta of 0.91. The business has a 50 day moving average of $323.32 and a 200-day moving average of $360.08.

Kinsale Capital Group (NYSE:KNSL - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $410.25 million. During the same period in the prior year, the business earned $3.71 earnings per share. Kinsale Capital Group's revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinsale Capital Group, Inc. will post 20.54 earnings per share for the current year.

Kinsale Capital Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 28th. Kinsale Capital Group's dividend payout ratio is currently 4.40%.

Analyst Ratings Changes

KNSL has been the topic of a number of research reports. BMO Capital Markets downgraded Kinsale Capital Group from a "market perform" rating to an "underperform" rating and set a $348.00 price objective on the stock. in a report on Wednesday, February 25th. Wall Street Zen cut Kinsale Capital Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Cantor Fitzgerald decreased their target price on Kinsale Capital Group from $360.00 to $280.00 and set a "neutral" rating for the company in a research report on Thursday, April 9th. Weiss Ratings cut Kinsale Capital Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada decreased their target price on Kinsale Capital Group from $385.00 to $375.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $390.18.

Insider Activity

In other news, insider Salmaan K. Allibhai sold 250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $311.17, for a total value of $77,792.50. Following the completion of the sale, the insider directly owned 3,645 shares of the company's stock, valued at approximately $1,134,214.65. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher R. 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 price of $304.00 per share, with a total value of $100,320.00. Following the completion of the purchase, the chief accounting officer directly owned 380 shares of the company's stock, valued at $115,520. This represents a 660.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.60% of the stock is owned by company insiders.

About Kinsale Capital Group

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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